UA reported a 28% increase in net income in Q3 2008, driven primarily by a 26.5% increase in sales as the company continues its rampant expansion.
Q2 sales increased 30% from a year earlier, primarily because of a successful launch of its performance training footwear. However, the company's net income decreased to $1.4 million from $5.7 million a year earlier.
UA releases its first quater report for 2008. The apparel unit exibited 25% in earnings growth for Q1 2008, however inventory has increased quarter on quarter, by $1.8 million.
In the early trading hours, Under Armour, Inc was trading at around 50 times analysts' 2008 earnings estimate of $1.31 a share, becoming a very ‘pricey stock’
Net income at Under Armour more than doubled, to 11 cents a share from 5 cents a share in the year ago quarter.
Speculation hit message boards that Nike is planning an offer for Under Armour at a substantial premium to the market price
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