Columbia Sportswear Q3 Profit Down

(RTTNews) - Columbia Sportswear Co. (COLM) Thursday reported third-quarter net income of $54.6 million or $1.57 per share, compared to $64.4 million or $1.88 per share last year.

Consolidated net sales decreased 4 percent to $523.1 million from $545.0 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.43 per share on revenues of $513.69 million for the quarter. Analysts' estimates typically exclude special items.

The board approved a 14 percent increase in the quarterly dividend to $0.25 per share, payable on December 2 to shareholders of record on November 14.

Looking forward to the full year 2013, consolidated net sales are now expected to decline up to 1.5 percent. Previously, the company expected net sales to decline up to 2.5 percent.

The company now expects fourth quarter sales to decline up to 2.0 percent.