Columbia Sportswear Reports Solid Earnings (COLM)

Columbia Sportswear Company (

) reports Q3 earnings of $1.53 versus consensus of $1.47. Columbia Sportswear Company reports revenues of $504.0 million versus consensus of $504.19 million. The company expects fourth quarter 2010 sales to increase 20 to 23 percent compared with the fourth quarter of 2009, driven by the previously announced increase in advance seasonal orders, coupled with increased direct-to-consumer sales. COLM also noted that its outlook for full year 2010 now shows net sales increasing 17 to 18 percent. The company reported that as of September 30, 2010, Spring wholesale backlog was $394.2 million, an increase of $43.4 million, or approximately 12 percent, compared with Spring wholesale backlog of $350.8 million at September 30, 2009. Tim Boyle, Columbia's president and chief executive officer, commented, "We achieved quarterly sales of over $500 million for the first time in the company's 72-year history, highlighted by the global launch of our innovative Omni-Heat(TM) warmth technologies. During the quarter we also added another technology to our expanding platform of innovations with the acquisition of OutDry(R) Technologies, which we plan to introduce across our brand portfolio in Fall 2011."