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Under Armour raises outlook on strong sales

Athletic apparel and footwear maker Under Armour Inc. on Tuesday raised its yearly guidance due to better-than-expected sales year-to-date.
/ Source: The Associated Press

Athletic apparel and footwear maker Under Armour Inc. on Tuesday raised its yearly guidance due to better-than-expected sales year-to-date.

The company now expects 2009 revenue of $830 million to $835 million, from a previous estimate of $810 million.

Analysts surveyed by Thomson Reuters, on average, predict revenue of $815.4 million.

The company now expects earnings of 85 cents to 87 cents per share from previous expectations of 80 cents to 82 cents per cents per share. Analysts expect net income of 83 cents per share.

Expenses are expected to be higher due to higher personnel costs, including increased funding of the company's performance incentive plan. They are now expected to grow in the mid-teens percentage range from earlier expectations of growth in the low teens.