- Prachi Singh
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Net sales at Columbia Sportswear Company increased 8 percent or 10
percent constant-currency to 654.6 million dollars for the first quarter of
2019. The company said, gross margin expanded 210 basis points to 51.4
percent of net sales, compared to 49.3 percent of net sales in the same
quarter of 2018. Earnings per diluted share increased 67 percent to 1.07
dollars, compared to first quarter 2018 earnings per diluted share of 64
cents. Compared to non-GAAP first quarter 2018 earnings per diluted share
of 77 cents, earnings per diluted share increased 39 percent.
Commenting on the company’s performance, Columbia Sportswear’s President
and CEO Tim Boyle said in a statement: “It is encouraging to see the
momentum we created in 2018 continue into this year, with record first
quarter net sales, gross margin, operating income, net income and earnings
per diluted share. Above plan first quarter results as well as favourable
advance fall 2019 orders give us confidence to increase our full year
financial outlook. “
Columbia Sportswear raises full year outlook
First quarter operating income, the company added, increased 48 percent
to 88 million dollars and operating margin expanded 360 basis points to
13.4 percent of net sales, compared to first quarter 2018 operating income
of 59.3 million dollars or 9.8 percent of net sales. Compared to non-GAAP
first quarter 2018 operating income of 70.3 million dollars or 11.6 percent
of net sales, operating income increased 25 percent and operating margin
expanded 180 basis points.
For the full year 2019, the company expects net sales of 2.98 to 3.04
billion dollars compared to prior outlook of 2.97 to 3.03 billion dollars,
representing net sales growth of 6.5 to 8.5 percent against prior outlook
of 6 to 8 percent. The company expects a foreign currency translation
impact to reduce net sales growth by approximately 70 basis points.
Operating income is expected to range from 378 to 391 million dollars
compared to prior outlook of 369 to 382 million dollars, representing
operating margin of 12.7 to 12.9 percent against prior expectation of 12.4
to 12.6 percent. Diluted earnings per share are expected to range from 4.40
dollars to 4.55 dollars compared to prior outlook of between 4.30 dollars
to 4.45 dollars.
Picture:Columbia Sportswear website
