Under Armour, Inc. (UA:NYSE)

Under Armour, Inc. and IMG Worldwide, Inc. announced an exclusive partnership highlighted by the development of a unique comprehensive athletic training platform that will establish a global measurement standard for improved sports performance, health and fitness called Combine360. By utilizing the performance and training expertise of Under Armour and IMG Performance, Combine360 will measure and record sport-specific ability and mental aptitude, nutritional level, ability to communicate and a variety of other performance disciplines allowing athletes of all abilities from across the world to compare their scores. As part of this new venture, beginning in early 2010, Under Armour and IMG Performance will host over 100 combines at regional sites across the country. Staffed by some of the world's top performance specialists from Under Armour and IMG Performance, the combines will lay the foundation for a consistent platform for athletic analysis. This partnership will also help establish testing metrics, training methodology, certification standards and continuing educational programs to maximize athletic development and performance potential. The focal points of this integrated training platform are at three levels: 90 (Core Physical), 180 (Sports-Specific Physical) and 360 (Advanced Elements). These tests will include physical conditioning, muscle regeneration, nutrition, sports medicine and anthropometric assessments. To kick off the partnership and showcase the multi-sport applications of this joint initiative, Under Armour and IMG Performance hosted a special grassroots combine for dedicated football, soccer and rugby players (ages 8-18) on October 24th at London's Finsbury Park Stadium in conjunction with the NFL game in London between the New England Patriots and Tampa Bay Buccaneers. Over 250 talented athletes participated in this first-ever program. In addition to the London combine, Under Armour will provide apparel, footwear and accessories to IMG Academies, a division of IMG Worldwide. Under Armour also will utilize the IMG Performance Institute at the Academy to test its newest innovations. IMG and Under Armour's partnership will have multiple retail and consumer extensions, with both parties working to develop sports-specific training programs, equipment, instruction and online content.

Under Armour, Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2009. Net revenues increased 16.2% in the third quarter of 2009 to $269.5 million compared with net revenues of $231.9 million in the third quarter of 2008. Net income increased to $26.2 million in the third quarter of 2009 compared with $25.7 million in the prior year's period. Diluted earnings per share for the third quarter of 2009 was $0.52 on weighted average common shares outstanding of 50.7 million compared with $0.51 per share on weighted average common shares outstanding of 50.4 million in the third quarter of the prior year. For the third quarter, operating income rose to $47.1 million compared with $46.5 million in the prior year's period. Income before income taxes for the period was $46.7 million against $44.7 million for same period a year ago. For the first nine months of 2009, net revenues increased 16.2% to $634.2 million compared with $546.0 million in the prior year. Net income for the first nine months of 2009 increased to $31.6 million compared with $29.9 million in the same period of 2008. Diluted earnings per share for the first nine months of 2009 was $0.62 compared with $0.59 per share in the prior year's period. Income from operations for the period was $58.3 million against $54.1 million for same period a year ago. Income before income taxes for the period was $56.2 million against $52.0 million for same period a year ago. For 2009, the company had previously estimated annual net revenues of approximately $810 million and diluted earnings per share in the range of $0.80 to $0.82. However, based on its performance year-to-date, the company is increasing its outlook for 2009. The company now anticipates full year net revenues of $830 million to $835 million. Based on higher personnel costs, including increased funding of the company's performance incentive plan, selling, general, and administrative expenses for 2009 are now expected to grow in the mid-teens on a percentage basis year-over-year, above the company's previous outlook for growth in the low-teens. Diluted earnings per share for the year is anticipated to be $0.85 to $0.87.

Under Armour Inc. provided capital expenditure guidance for the full year of 2009. The company continues to anticipate 2009 capex to be in the range of $30.0 million to $35.0 million, below the $41.0 million invested in 2008.