Industry Report: Under Armour reports successful first quarter

According to Sportsonesource.com, athletic apparel manufacturer Under Armour, Inc. reported a first quarter revenue increase of 27.1% to $200 million. The company’s 2008 first quarter revenue reached $157.3 million. Under Armour’s net income went from $2.9 million last year up 38% to $4 million. 

The company’s apparel net revenue went up 2.4%, while the introduction of running footwear drove the overall increase, improving  by 243% to $56.9 million compared to $16.6 million last year.

“The athletic footwear market represents an enormous growth opportunity for the Under Armour Brand,” said Kevin Plank, chairman and CEO of Under Armour, Inc. “With each new category we enter, our ultimate goal is to build momentum by developing innovative footwear technology, generating support from our key retail partners, and delivering product to our core consumer that drives our credibility as a performance footwear brand. Our success with previous categories laid the groundwork for our most recent advancement – our entry into running footwear – and our performance in running has paved the way to establish Under Armour as a major player in the athletic footwear market over the long-term.”

One of Under Armour’s top endorsers is ski racer and two-time World Cup overall champion Lindsey Vonn of the U.S. Ski Team.   

According to Sportsonesource.com, athletic apparel manufacturer Under Armour, Inc. reported a first quarter revenue increase of 27.1% to $200 million. The company’s 2008 first quarter revenue reached $157.3 million. Under Armour’s net income went from $2.9 million last year up 38% to $4 million. 

The company’s apparel net revenue went up 2.4%, while the introduction of running footwear drove the overall increase, improving  by 243% to $56.9 million compared to $16.6 million last year.

“The athletic footwear market represents an enormous growth opportunity for the Under Armour Brand,” said Kevin Plank, chairman and CEO of Under Armour, Inc. “With each new category we enter, our ultimate goal is to build momentum by developing innovative footwear technology, generating support from our key retail partners, and delivering product to our core consumer that drives our credibility as a performance footwear brand. Our success with previous categories laid the groundwork for our most recent advancement – our entry into running footwear – and our performance in running has paved the way to establish Under Armour as a major player in the athletic footwear market over the long-term.”

One of Under Armour’s top endorsers is ski racer and two-time World Cup overall champion Lindsey Vonn of the U.S. Ski Team.