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
For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/cgi-bin/snews/stock_report.html.