Under Armour Q4 Results Beat View; Affirms FY19 Outlook - Quick Facts

(RTTNews) - Under Armour, Inc. (UA, UAA) on Tuesday reported a turnaround to profit in the fourth quarter on higher revenues as well as lower costs and expenses.

Both revenue and adjusted earnings per share for the quarter beat analysts' expectations, In addition, the company affirmed its financial outlook for fiscal 2019. Shares of the company are rising more than 2 percent in pre-market activity.

The company's fourth-quarter net income was $4.22 million or $0.01 per share, compared to net loss of $87.92 million or $0.20 per share in the year-ago period.

Excluding items, adjusted net income for the quarter was $42 million or $0.09 per share.

Net revenue for the quarter rose 1.5 percent to $1.39 billion from $1.37 billion in the year-ago period. Revenue increased 3 percent on a currency neutral basis.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.04 per share for the quarter on revenues of $1.38 billion. Analysts' estimates typically exclude special items.

For fiscal 2019, Under Armour affirmed its outlook provided on December 12, 2018. The company continues to expect revenue to increase about 3 percent to 4 percent, reflecting relatively flat results for North America and a low double-digit percentage rate increase in the international business, and earnings per share in a range of $0.31 to $0.33.

The Street expects earnings of $0.34 per share for the quarter on revenues of $5.39 billion.