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Under Armour Profits Rise in the Second Quarter

By DMO Affiliate
7-24-2012- From Fnno.com, you're watching the Financial News Network. Good news for sports apparel maker Under Armour today--the company reported a 6.8 percent gain in its second-quarter earnings. Under Armour posted a profit of $6.7 million, compared with $6.2 million a year ago. This comes out to an EPS of six cents, above analyst estimates of five cents a share. Under Armour is continuing the streak started last year, when net sales rose 40% to $1.44 billion. This year, the company expects revenue of at least $1.8 billion, and attributes its success to a 44% surge in footwear sales, where products like the Spine, a new lightweight running sneaker, have been thriving. Under Armour has also been focusing on items like yoga pants and sports bras, allowing it to win over female customers. By contrast, sportswear rival Nike missed Wall Street expectations when it reported results last month. For more on the latest business news, follow us on Twitter @FNNOnline, or check out our website at fnno.com
Under Armour Profits Rise in the Second Quarter




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