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Columbia Sportswear Company Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: August 5, 2011 03:36PM

Columbia Sportswear Company (COLM) filed Quarterly Report for the period ended 2011-06-30. Columbia Sportswear Company has a market cap of $1.8 billion; its shares were traded at around $53.18 with a P/E ratio of 23.5 and P/S ratio of 1.3. The dividend yield of Columbia Sportswear Company stocks is 1.5%.



Highlight of Business Operations:

Net Sales: Consolidated net sales increased $46.2 million, or 21%, to $268.0 million for the second quarter of 2011 from $221.8 million for the comparable period in 2010. Net sales increased across all four of our major brands, all geographic regions and all product categories. Changes in foreign currency exchange rates compared with the second quarter of 2010 contributed approximately a three percentage point benefit to the consolidated net sales comparison.

Net sales in Canada increased $1.1 million, or 14%, to $8.8 million for the second quarter of 2011 from $7.7 million for the comparable period in 2010. Changes in foreign currency exchange rates compared with 2010 contributed approximately a six percentage point benefit to the Canada net sales comparison. The increase in net sales was led by the Columbia brand, followed by Mountain Hardwear and Sorel. By product category, the increase in net sales was led by footwear, followed by outerwear, sportswear and accessories and equipment.

Net sales of outerwear increased $18.7 million, or 43%, to $62.1 million for the second quarter of 2011 from $43.4 million for the comparable period in 2010. The increase in outerwear net sales was primarily concentrated in the Columbia brand and was led by the EMEA region, followed by the LAAP region, the United States and Canada. The net sales increase in outerwear in the EMEA region consisted of a net sales increase in our distributor business, partially offset by a net sales decrease in our direct business. The outerwear net sales increase in the LAAP region was led by our LAAP distributor business, followed by Japan and Korea.

Net Licensing Income: Net licensing income increased $1.7 million to $3.5 million for the second quarter of 2011 from $1.8 million for the same period in 2010, primarily due to increased apparel and footwear licensing income in the LAAP region.

Net Loss: Net loss increased $3.0 million, or 28%, to $13.6 million for the second quarter of 2011 from $10.6 million for the comparable period in 2010. Diluted loss per share was $0.40 for the second quarter of 2011, compared to $0.31 for the second quarter of 2010.

Net Sales: Consolidated net sales increased $78.9 million, or 15%, to $601.1 million for the six months ended June 30, 2011 from $522.2 million for the comparable period in 2010. Net sales increased across all four of our major brands, all geographic regions and all product categories. Changes in foreign currency exchange rates, compared with the six months ended June 30, 2010, contributed approximately a two percentage point benefit to the consolidated net sales comparison.

Read the The complete Report



Stocks Discussed: COLM,
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