under armour inc-class a (UA) Snapshot

To discuss vision for the future of the Brand

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.