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Reuters
Published
Jan 29, 2009
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Under Armour Q4 profit falls and matches expectations

By
Reuters
Published
Jan 29, 2009

* Q4 EPS 17 cents, matching lowered Wall St view

* Q4 revenue up 2.5 percent

* Enters new 3-year revolving credit facility

NEW YORK, Jan 29 (Reuters) - Under Armour Inc (UA.N) said on Thursday fourth-quarter profit fell by more than half as its apparel revenues were hurt by weak orders and more cancellations from U.S. retailers, but the result matched Wall Street's lowered expectations.


www.underarmour.com

The athletic clothing and shoe maker reported net income of $8.3 million, or 17 cents per share, compared with $16.9 million, or 34 cents per share, a year earlier.

Analysts, on average, expected earnings of 17 cents a share, according to Reuters Estimates.

Earlier this month, the company said it expected quarterly earnings between 16 cents to 18 cents per share -- far below below analysts' estimates at that time.

Revenue rose 2.5 percent to $179.3 million.

Under Armour said it entered a new three-year revolving credit facility, which gives it an initial commitment of $180 million and replaces an existing $100 million line. (Reporting by Aarthi Sivaraman; Editing by Steve Orlofsky)

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