Columbia Sportswear: 2Q Earnings Snapshot
PORTLAND, Ore. (AP) _ Columbia Sportswear Co. (COLM) on Thursday reported second-quarter net income of $9.7 million, after reporting a loss in the same period a year earlier.
The Portland, Oregon-based company said it had net income of 14 cents per share. Earnings, adjusted for non-recurring costs, came to 16 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The maker of outdoor gear posted revenue of $481.6 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $447.4 million.
Columbia Sportswear expects full-year earnings in the range of $3.37 to $3.47 per share.
Columbia Sportswear shares have increased 29 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $92.52, an increase of 60 percent in the last 12 months.