By  on February 13, 2002

NEW YORK -- Columbia Sportswear Co. posted increases in both earnings and revenues for the fourth quarter and yearend periods.

For the three months ended Dec. 31, income skyrocketed 79.3 percent, to $24.2 million, or 61 cents a diluted share, from $13.5 million, or 34 cents, in the year-ago quarter. Sales were up 32.4 percent, to $214.3 million from $161.9 million.

Domestic sales for the quarter grew 31.5 percent to $152.7 million, while Canadian sales jumped 60.7 percent to $24.1 million. Other international sales rose 21.8 percent to $37.5 million, which included an increase in European sales of 22.8 percent to $19.9 million. The company's outerwear and cold-weather footwear businesses grew by 33.5 percent and 54.2 percent, respectively.

Tim Boyle, president and chief executive officer, said in a statement that the company anticipates flat revenues for the first quarter of fiscal 2002. He provided guidance of a first-quarter net income decline in the range of 10 to 30 percent. Guidance for the second quarter included revenue growth of 3 percent, but a decline in net income of 15 to 30 percent.

For the year, income jumped 51.5 percent to $88.8 million, or $2.23 a share, versus $58.6 million, or $1.48, a year ago. Sales increased 26.8 percent to $779.6 million from $614.8 million.

The increase in sales for the year was attributable to strength in key merchandise categories: Outerwear sales increased 25.1 percent to $403.3 million; sportswear rose 14.7 percent to $232.9 million, and footwear sales grew 57.8 percent to $108.7 million. Geographically, domestic sales rose 25.6 percent to $551.3 million, while Canadian sales were up 28.8 percent to $81.3 million. Other international sales increased 30.3 percent to $147.1 million, which included a jump in European sales of 39.5 percent to $82.3 million.

Columbia Sportswear manufactures active outdoor apparel and footwear.

To access this article, click here to subscribe or to log in.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus