Columbia Sportswear Co. earned more in the fourth quarter despite sliding sales.
For the period ended Dec. 31, the Portland, Ore.-based firm earned a net income of $39.5 million, or $1.15 a share — representing an 8 percent increase from the same period a year ago.
But revenue slipped 5 percent to $501.1 million, from $526.1 million.
In a statement, the firm said mild winter weather in North America during most of the holiday-shopping period and general consumer caution resulted in reduced retail traffic and a more promotional environment in key markets, which in turn caused more order cancellations and fewer reorders from wholesale customers.
By category, footwear revenue declined 14 percent to $108.8 million. Apparel, accessories and equipment sales fell 2 percent to $392.3 million.
Tim Boyle, Columbia’s president and CEO, said in a statement: “Diligent expense management throughout the year enabled us to deliver solid results during what proved to be another year of unseasonably warm weather in North America.”
For the full year, however, Columbia’s net income slipped 3.5 percent to $99.9 million, or $2.93 a share. Sales fell 1.4 percent to $1.67 billion. Columbia’s shares fell 2.1 percent in after-hours trading Thursday.
The company ended the year with $290.8 million in cash and cash equivalents, compared with $241 million the same period a year ago.