Columbia Sportswear Q2 Results Top Estimates; Boosts FY15 Outlook

(RTTNews) - Columbia Sportswear Co. (COLM) reported a second quarter net loss of $6.5 million or $0.09 per share, compared to a net loss of $6.3 million or $0.09 per share for the year-ago quarter.

The year-ago quarter results included a net tax benefit of $5.6 million, or $0.08 per share, from the favorable resolution of uncertain tax positions, and acquisition costs totaling about $2.1 million net of tax, or $0.03 per share, related to the purchase of prAna Living, LLC.

Net sales for the second quarter rose 17% to $380.2 million from $324.2 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.23 per share on revenue of $345.79 million for the second quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the company expects low double-digit percentage 2015 net sales growth and earnings of $2.25 to $2.35 per share. Previously, the company forecast high single-digit net sales growth and earnings of $2.15 to $2.25 per share.

Analyst currently expect the company to earn $2.24 per share on revenue growth of 9.30% for the full year 2015.