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Columbia Sportswear with record results

Feb 21, 2019 United States
Columbia Sportswear with record results
The Oregon-based company announced two digits growth for net sales in the fourth quarter of 2018, and in the full year. Operating income and net income also presented record increases
President and Chief Executive Officer Tim Boyle commented: “I'm extremely proud of the tremendous quarter and year that our teams have produced. We were able to deliver record fourth quarter and full year results that significantly exceeded our outlook, while at the same time making substantial investments in our strategic priorities including demand creation. I’d like to thank our over 7 800 global employees whose dedication and focus drove these spectacular results.”

Columbia Sportswear announced net sales of 917.6 million US dollars for the fourth quarter 2018, an increase of 18% (19% constant-currency), compared with net sales of 776.0 million US dollars for fourth quarter 2017. Fourth quarter 2018 net income increased to 113.3 million  US dollars, or 1.63 US dollars per diluted share, compared to fourth quarter 2017 net loss of 7.1 million US dollars, or (0.10) US dollars per share.

Full year 2018 net sales increased 336.2 million US dollars, or 14% (13% constant-currency), to 2 802.3 million US dollars, compared to 2 466.1 million US dollars in the prior year. Full year 2018 net income increased by 155% to 268.3 million US dollars, or 3.81 US dollars per diluted share, compared to 105.1 million US dollars, or 1.49 US dollars per diluted share, in the prior year.


Highlights


Fourth quarter net sales increased 18% (19% constant-currency) to a record 917.6 million US dollars.
Full year net sales increased 14% (13% constant-currency) to a record 2 802.3 million US dollars.

Fourth quarter operating income increased 40% to a record 152.8 million US dollars, representing 16.6% of net sales. Full year operating income increased 33 percent to a record 351.0 million US dollars, representing 12.5% of net sales.

Fourth quarter net income increased to a record 113.3 million US dollars, or a record 1.63 US dollars per diluted share, compared to a net loss of 7.1 million US dollars, or (0.10) US dollars per share in fourth quarter 2017. Full year net income increased 155% to a record 268.3 million US dollars, or a record 3.81 US dollars per diluted share.

Photo by Mark Finn on Unsplash

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