By  on January 29, 2010

Shares of performance apparel manufacturer Under Armour Inc. fell 6 percent Thursday despite a double-digit increase in fourth-quarter profit and a boost in guidance after the firm warned expenses will increase in 2010 as it invests in its direct-to-consumer business.

For the three months ended Dec. 31, income rose 82.7 percent to $15.2 million, or 30 cents a diluted share, 5 cents above the consensus estimate. This compares with profits of $8.3 million, or 17 cents, in the year-ago quarter.

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