Under Armour Down 5% Despite Better Than Expected Q4 EPS
The shares of Under Armour (NYSE: UA) are trading lower on the session following the company's Q4 earnings announcement. The company reported EPS of $0.62 vs $0.60 estimate and revenues of $403.00 million vs $403.55 million estimate.
CEO and President of Under Armour, Kevin Plank said: "We completed a very successful 2011, growing net revenues 38%, the highest overall growth rate since 2007. Our apparel business surpassed the $1 billion mark and we demonstrated our ability to broaden the addressable market for the Brand with the introduction of our premium cotton platform. The strength we continue to see in our apparel and Direct-to-Consumer businesses affords us the ability to continue to make strategic investments in other long-term growth drivers like footwear and international."
Under Armour is currently trading at $73.59, a loss of $3.90 or 5.03%.
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