Under Armour Beats Q4 Expectations

Under Armour Inc UA announced financial results Wednesday for the fourth quarter ended December 31, 2014 and beat expectations.

Net revenues came in at $895 million, above estimates of $848.96 million and an increase of 31 percent compared to the prior year period. 

Net income was $88 million, an increase of 37 percent compared to the $64 million reported in the year-ago period. 

Diluted earnings per share were $0.40, $0.01 above estimates and above the $0.30 per share reported in the prior year period.  

Kevin Plank, Chairman and CEO of Under Armour, Inc., stated, "We are incredibly proud of recording our 19th consecutive quarter of over 20 percent net revenue growth, including achieving over 30 percent growth in each quarter of 2014, demonstrating the unending opportunity we see across our five key growth drivers.

In early January of 2015, the company completed its acquisition of Endomondo for a purchase price of $85 million. An agreement to acquire MyFitnessPal for a purchase price of $475 million was also announced.

The company expected 2015 net revenues of approximately $3.76 billion, representing growth of 22 percent over 2014 and 2015 operating income in the range of $397 million to $407 million, representing growth of 12-15 percent over 2014.

Under Armour Inc traded at $73.28 in the after hours session, down 0.39 percent.