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.
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