The second-quarter loss came in at $6.5 million, or 9 cents per share, which compares to $6.3 million, or 9 cents, in the same period last year as sales gained 17.3 percent to $380.2 million from $324.2 million. U.S. sales increased 45 percent to $212.1 million while sales in Canada gained 27 percent to $11.3 million. By brand, Columbia sales rose 12 percent in the quarter while Sorel increased 43 percent and Prana gained 375 percent. Mountain Hardwear declined 3 percent. Gross margins in the quarter increased 64 basis points to 45.06 percent.
As a result, the company expects fiscal year sales to be in the low-double digits with high-teen percentage gain in its operating income. For the year, net income is forecast to be between $160 million and $168 million, or between $2.25 and $2.35 per share.
The company reported results after the market closed. At the bell, shares of the company closed up 2 percent to $62.64. In after-market trading, the stock gained another 8.9 percent to $68.
For the second-half period, net income rose 25 percent to $19.9 million, or 28 cents per share — above analysts’ estimates. Sales for the first half increased 15 percent $859.2 million.
“Strong sell-through of spring 2015 products in North America and Europe drove demand in the second quarter and is fueling encouraging Spring 2016 wholesale advance orders,” said Tim Boyle, Columbia’s chief executive officer, in a statement.
“We enter the fall season with robust momentum in North America behind our Columbia, Sorel and Prana brands,” the ceo added. “In addition, we are gaining traction with the Columbia brand in Europe, despite slow economic growth in that region. As planned, with earlier receipt of fall season inventory, we are very well positioned to deliver against our strong fall advance order book.”