Under Armour more than doubles Q2 profit
Under Armour (NYSE: UA) said its second-quarter profit more than doubled on strong sales of both men’s and women’s clothing, as well as accessories.
For the three months ended June 30, Under Armour earned $3.5 million, or $0.07 per share, compared to $1.4 million, or $0.03 per share, last year.
Revenue climbed more than 24 percent to $204.8 million from $164.6 million.
The company also nearly doubled its cash and equivalents, which were $156.1 million at the end of the quarter.
Operating income rose 104 percent to $6.9 million compared with $3.4 million in the prior year’s period. Gross margin increased to 48.8 percent compared with 44.8 percent in the prior year’s quarter.
Also, the company boosted its full-year outlook, saying it now expects to earn between $1.11 per share and $1.13 per share. It had previously expected to earn $1.05 to $1.07 per share.
It also adjusted its full-year sales forecast to a range of $990 million to $1.01 billion – about a 16-percent increase from last year’s results. It had previously expected revenue between $965 million and $985 million
Iconix’s Q2 revenue up 35 percent
With strong results from its direct-to-retail segment, Iconix Brand Group (Nasdaq: ICON) experienced a 35-percent increase in second-quarter revenue. Fitness EM licenses the Danskin brand name for fitness equipment from Iconix’s property, Triumph, formerly known as Danskin.
Revenue rose to $76.0 million versus $56.4 million in the second quarter of 2009.
For the quarter, Iconix earned $24.5 million, or $0.33 a share, compared with $19.3 million, or $0.30 a share last year same quarter. On an adjusted basis, it earned $0.36 a share.
Iconix reiterated its full year 2010 revenue guidance of $305 million to $315 million and its EPS guidance of $1.35-$1.40. The company expects to continue to generate strong free cash flow for 2010 of $150 million to $155 million.
GSI widens loss in Q2
GSI Commerce (Nasdaq: GSIC) reported a 41 percent jump in second-quarter net revenues, but a wider loss.
For the period ended July 3, net revenues were $264.2 million compared to $187.2 million.
Net loss was $25.7 million, or $0.41 per share, compared to net loss of $13.1 million or $0.27 per share.
Looking ahead, the company said it expects net revenues of $280 million and a loss of $25.8 million for the third quarter. For the year, it’s looking at net revenues of $1.3 billion and a loss of $0.9 million.
GSI is a provider of services that enable e-commerce, multichannel retailing and interactive marketing for large, business-to-consumer enterprises in the United States and internationally.
Winmark declares quarterly dividend
Winmark Corp. (Nasdaq: WINA), parent of Play it Again Sports, said its board of directors approved the payment of a cash dividend of $0.02 to its shareholders. It will be payable on Sept. 1 to shareholders of record on Aug. 11.
–Compiled by Wendy Geister
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