By  on April 28, 2009

Accelerating footwear sales helped Under Armour Inc. record a 38 percent boost in first-quarter profits and lift its stock Tuesday.

The Baltimore-based activewear producer said net income for the period ended March 31 grew to almost $4 million, or 8 cents a diluted share, versus $2.9 million, or 6 cents a share, in the year-ago quarter. Net sales increased 27.1 percent to $200 million, from $157.3 million, a year earlier. Analysts surveyed by Yahoo Finance expected earnings per share of 3 cents on sales of $182.2 million.

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