Under Armour Inc. (NYSE: UA) reported its first-quarter financial results before the markets opened on Thursday. The company said it had $0.04 in earnings per share (EPS) on $1.05 billion in revenue. That compared to consensus estimates from Thomson Reuters of $0.02 in EPS on revenue of $1.02 billion.

Net revenues increased 30% in this quarter, compared with net revenues of $805 million in the prior year’s period. On a currency neutral basis, net revenues increased 32% from last year.

The apparel segment had net revenues increase 20% to $667 million, compared with $555 million in the same period of the prior year, led by growth in training and golf. Footwear net revenues increased 64% to $264 million from $161 million in the prior year’s period, primarily reflecting the ongoing success of the Curry signature basketball line and expanded running offerings. Accessories net revenues increased 26% to $80 million from $63 million in the prior year’s period, driven primarily by growth in headwear and bags.

In terms of guidance, the company expects revenues to be $5.0 billion for the full year, representing growth of 26% from last year. Also the company expects operating income in the range of $503 million to $507 million, representing growth of 23% to 24% over 2015. Consensus estimates call for $0.65 in EPS on $4.96 billion in revenue for the full year.

Kevin Plank, chairman and CEO of Under Armour, commented:

For the past 24 consecutive quarters or six years, we have driven net revenue growth above 20% and we are incredibly proud of our start to 2016 with first quarter net revenue growth of 30%.  The strong results posted this quarter truly demonstrate the balanced growth of our brand across product categories, channels and geographies.  It also showcases our heightened focus on providing better service across our distribution channels, ensuring that our consumer consistently finds the newest, most premium product from us wherever they shop.  In footwear, this includes the remarkable success of the Stephen Curry signature basketball line, as well as the exciting launches of our first smart running shoe and our new line of Jordan Spieth inspired golf shoes.  Combined with the introductions of premium apparel technologies like Microthread and CoolSwitch, we will continue to drive elevated innovation and excitement to the athlete throughout the remainder of 2016.

On the books, cash and cash equivalents decreased 30% to $157 million at the end of March, compared with $225 million at the end of last year’s first quarter.

Shares of Under Armour were up 6% at $46.57 early Thursday, with a consensus analyst price target of $54.00 and a 52-week trading range of $31.62 to $52.95.

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