Under Armour, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, net revenue was $471.608 million against $384.389 million a year ago. Income from operations was $13.492 million against $24.403 million a year ago. Income before income taxes was $13.007 million against $23.130 million a year ago. Net income was $7.814 million or $0.07 per diluted share against $14.661 million or $0.14 per diluted share a year ago. Net cash used in operating activities was $74.536 million against $73.048 million a year ago. Purchases of property and equipment was $18.329 million against $8.839 million a year ago. Capital expenditures was approximately $11 million for the first quarter. The company had previously anticipated 2013 net revenues in the range of $2.20 billion to $2.22 billion, representing growth of 20% to 21% over 2012, and 2013 operating income in the range of $255 million to $257 million, representing growth of 22% to 23% over 2012. Based on current visibility, the company now expects 2013 net revenues in the range of $2.21 billion to $2.23 billion, representing growth of 21% to 22% over 2012, and 2013 operating income in the range of $256 million to $258 million, representing growth of 23% to 24% over 2012. The company continues to expect an effective tax rate of 39.0% to 39.5% for the full year, compared to an effective tax rate of 36.7% for 2012. The company continues to expect modest 2013 gross margin expansion from the 47.9% level in 2012. The company currently expects 2013 capital expenditures at the high end of initial guidance range of $80 million to $85 million.

Under Armour, Inc. announced that it plan to open 10 Factory House stores during 2013.

Under Armour, Inc. announced that they will report Q1, 2013 results at 7:00 AM, US Eastern Standard Time on Apr 19, 2013