Under Armour Inc. (UA, Financial) filed Annual Report for the period ended 2010-12-31.
Under Armour Inc. has a market cap of $3.37 billion; its shares were traded at around $66.15 with a P/E ratio of 49.7 and P/S ratio of 3.2. Under Armour Inc. had an annual average earning growth of 9.5% over the past 5 years.Hedge Fund Gurus that owns UA: Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates, Paul Tudor Jones of The Tudor Group, Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns UA: Ron Baron of Baron Funds, John Hussman of Hussman Economtrics Advisors, Inc., RS Investment Management, Jeremy Grantham of GMO LLC.
In 2010, 73% of our net revenues were generated from wholesale distribution. Our principal customers located in the United States include national and regional retail chains such as, in alphabetical order, Academy Sports and Outdoors, Dicks Sporting Goods, Hibbett Sporting Goods, Modells Sporting Goods, and The Sports Authority; hunting and fishing, mountain sports and outdoor retailers such as Bass Pro Shops and Cabelas; and The Army and Air Force Exchange Service. Our principal customers located in Canada include national retail chains such as Sportchek International and Sportman International. In 2010, our two largest customers were, in alphabetical order, Dicks Sporting Goods and The Sports Authority. These two customers accounted for a total of 27% of our net revenues in 2010, and one of these customers individually accounted for at least 10% of our net revenues in 2010.
Many of the specialty fabrics and other raw materials used in our products are technically advanced products developed by third parties and may be available, in the short term, from a limited number of sources. The fabric and other raw materials used to manufacture our products are sourced by our manufacturers from a limited number of suppliers pre-approved by us. In 2010, approximately 70% to 75% of the fabric used in our products came from eight suppliers. These fabric suppliers have locations in El Salvador, Mexico, Peru, Taiwan and the United States. We continue to seek new suppliers and believe, although there can be no assurance, that this concentration will decrease over time. The fabrics used by our suppliers and manufacturers are primarily synthetic fabrics and involve raw materials, including petroleum based products, that may be subject to price
Substantially all of our products are manufactured by unaffiliated manufacturers and, in 2010, six manufacturers produced approximately 45% of our products. In 2010, our products were manufactured by 26 primary manufacturers, operating in 22 countries. During 2010, approximately 55% of our products were manufactured in Asia, 25% in Central and South America, 10% in Mexico and 5% in the Middle East. All manufacturers are evaluated for quality systems, social compliance and financial strength by our quality assurance team prior to being selected and on an ongoing basis. Where appropriate, we strive to qualify multiple manufacturers for particular product types and fabrications. We also seek out vendors that can perform multiple manufacturing stages, such as procuring raw materials and providing finished products, which helps us to control our cost of goods sold. We enter into a variety of agreements with our manufacturers, including non-disclosure and confidentiality agreements, and we require that all of our manufacturers adhere to a code of conduct regarding quality of manufacturing and working conditions and other social concerns. We do not, however, have any long term agreements requiring us to utilize any manufacturer, and no manufacturer is required to produce our products in the long term. We have an office in Hong Kong to support our manufacturing, quality assurance and sourcing efforts for apparel and offices in Guangzhou, China to support our manufacturing, quality assurance and sourcing efforts for footwear.
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Under Armour Inc. has a market cap of $3.37 billion; its shares were traded at around $66.15 with a P/E ratio of 49.7 and P/S ratio of 3.2. Under Armour Inc. had an annual average earning growth of 9.5% over the past 5 years.Hedge Fund Gurus that owns UA: Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates, Paul Tudor Jones of The Tudor Group, Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns UA: Ron Baron of Baron Funds, John Hussman of Hussman Economtrics Advisors, Inc., RS Investment Management, Jeremy Grantham of GMO LLC.
Highlight of Business Operations:
Our product offerings consist of apparel, footwear and accessories for men, women and youth. We market our products at multiple price levels and provide consumers with what we believe to be a superior alternative to traditional athletic products. In 2010, sales of apparel, footwear and accessories represented 80%, 12% and 4% of net revenues, respectively. Licensing arrangements for the sale of our products represented the remaining 4% of net revenues. Refer to Note 16 to the Consolidated Financial Statements for net revenues by product.In 2010, 73% of our net revenues were generated from wholesale distribution. Our principal customers located in the United States include national and regional retail chains such as, in alphabetical order, Academy Sports and Outdoors, Dicks Sporting Goods, Hibbett Sporting Goods, Modells Sporting Goods, and The Sports Authority; hunting and fishing, mountain sports and outdoor retailers such as Bass Pro Shops and Cabelas; and The Army and Air Force Exchange Service. Our principal customers located in Canada include national retail chains such as Sportchek International and Sportman International. In 2010, our two largest customers were, in alphabetical order, Dicks Sporting Goods and The Sports Authority. These two customers accounted for a total of 27% of our net revenues in 2010, and one of these customers individually accounted for at least 10% of our net revenues in 2010.
Many of the specialty fabrics and other raw materials used in our products are technically advanced products developed by third parties and may be available, in the short term, from a limited number of sources. The fabric and other raw materials used to manufacture our products are sourced by our manufacturers from a limited number of suppliers pre-approved by us. In 2010, approximately 70% to 75% of the fabric used in our products came from eight suppliers. These fabric suppliers have locations in El Salvador, Mexico, Peru, Taiwan and the United States. We continue to seek new suppliers and believe, although there can be no assurance, that this concentration will decrease over time. The fabrics used by our suppliers and manufacturers are primarily synthetic fabrics and involve raw materials, including petroleum based products, that may be subject to price
Substantially all of our products are manufactured by unaffiliated manufacturers and, in 2010, six manufacturers produced approximately 45% of our products. In 2010, our products were manufactured by 26 primary manufacturers, operating in 22 countries. During 2010, approximately 55% of our products were manufactured in Asia, 25% in Central and South America, 10% in Mexico and 5% in the Middle East. All manufacturers are evaluated for quality systems, social compliance and financial strength by our quality assurance team prior to being selected and on an ongoing basis. Where appropriate, we strive to qualify multiple manufacturers for particular product types and fabrications. We also seek out vendors that can perform multiple manufacturing stages, such as procuring raw materials and providing finished products, which helps us to control our cost of goods sold. We enter into a variety of agreements with our manufacturers, including non-disclosure and confidentiality agreements, and we require that all of our manufacturers adhere to a code of conduct regarding quality of manufacturing and working conditions and other social concerns. We do not, however, have any long term agreements requiring us to utilize any manufacturer, and no manufacturer is required to produce our products in the long term. We have an office in Hong Kong to support our manufacturing, quality assurance and sourcing efforts for apparel and offices in Guangzhou, China to support our manufacturing, quality assurance and sourcing efforts for footwear.
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