Net Income: Portland, Oregon-based Columbia Sportswear Co. said its net income rose 19 percent to $26.5 million compared to $22.3 million in the same year-ago quarter.
EPS: Earnings per diluted share were also up to 37 cents from the year-ago same quarter’s 32 cents per diluted share.
Net Revenue: Net revenue rose 13 percent to $479 million compared to last year’s Q1 revenues of $424.1 million.
Hit, Miss or Beat: The company’s performance beat Wall Street’s forecasts for both revenues and EPS. Analysts polled by Yahoo Finance had predicted sales of $470 million and EPS of 36 cents per share.
Executive Insights: “2015 is off to a strong start, building on the momentum we created in 2014 behind the Columbia, Sorel and prAna brands. We are experiencing exceptional sell-through in North America through the first half of the spring season and our European business has returned to growth. Sorel is poised for a very strong second half and full year net sales of more than $200 million, while prAna remains on pace to deliver annualized growth of more than 20 percent,” –Tim Boyle Columbia’s CEO.
Looking Ahead: Columbia raised its 2015 outlook to expect high single-digit net sales growth, including approximately 4 percentage points of negative effects from changes in currency exchange rates; mid-teen percentage growth in operating income, resulting in full year operating margin of approximately 10.2 percent of net sales; net income between $154 million and $161 million, or $2.15 to $2.25 per diluted share.