- Prachi Singh |
Net sales at Columbia Sportswear Company increased 14 percent or 15 percent constant-currency to 906.8 million dollars from the comparable period in 2018. The company said in a statement that gross margin expanded 110 basis points to 49.3 percent of net sales, while operating income increased 18 percent to 152 million dollars or 16.8 percent of net sales. Net income increased 19 percent to 119.3 million dollars or 1.75 dollars per diluted share and increased 20 percent from non-GAAP net income of 99.3 million dollars or 1.41 dollars per diluted share for the comparable period in 2018.
Commenting on the company’s results, Columbia Sportswear President and Chief Executive Officer Tim Boyle said: “Record third quarter results exceeded our expectations, with broad based growth across our geographic segments, channels and product categories. As we enter our peak selling season, I’m confident that our powerful brand portfolio, globally diversified business model and the dedication and focus of our talented global team position us to deliver another year of record sales and profit.”
Columbia Sportswear’s nine-month net sales rise 11 percent
Net sales increased 11 percent or 12 percent constant-currency to 2,087.6 million dollars for the nine-month period, while gross margin expanded 130 basis points to 49.7 percent of net sales from the comparable period in 2018. Operating income increased 29 percent to 256.3 million dollars or 12.3 percent of net sales, or 23 percent from non-GAAP operating income of 208 million dollars or 11 percent of net sales, for the comparable period in 2018.
Net income increased 40 percent to 216.5 million dollars or 3.15 dollars per diluted share, and increased 31 percent from non-GAAP net income of 165.1 million dollars or 2.34 dollars per diluted share for the comparable period in 2018.
Raising its outlook for full year 2019, the company said, its management currently expects net sales of 3.01 to 3.04 billion dollars, representing net sales growth of 7.5 to 8.5 percent. The net sales outlook includes a foreign currency translation impact that is anticipated to reduce net sales growth by approximately 90 basis points. Operating income is expected to reach 392 to 401 million dollars, representing operating margin of 13.0 to 13.2 percent and diluted earnings per share are expected to range between 4.70 dollars to 4.80 dollars.