By  on January 29, 2009

Lower demand from retailers caused Under Armour Inc.’s fourth-quarter profits to fall by more than 50 percent, but it still met Wall Street’s diminished expectations.

For the quarter ended Dec. 31, the Baltimore-based athletic apparel maker posted net income of $8.3 million, or 17 cents a diluted share, a 50.1 percent fall from a year ago when profit totaled $16.9 million, or 34 cents a share. Sales in the fourth quarter rose 2.5 percent to $179.3 million from $174.9 million last year.

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