Under Armour: stock rises as demand recovers

(CercleFinance.com) - On Friday the US sports equipment manufacturer Under Armour reported profits that were divided by almost three over Q3, in particular due to a restructuring and depreciation charge of 74 million dollars.


Net income for the three months ended September was 39 million dollars, or nine cents per share, compared with 102 million dollars, or 23 cents per share, a year ago.

The Baltimore-based group nevertheless reported a slight increase in sales over July-September to over 1.43 billion dollars.

Its Q3 results reflected a significantly-better-than expected performance driven by improved demand and solid execution, said CEO Patrik Frisk.

Alongside its earnings release, Under Armour announced that it has sold MyFitnessPal, its platform for monitoring food activity and consumption, to private equity fund Francisco Partners in a transaction worth 345 million dollars.

Investors liked these announcements, with the stock up nearly in early trading on Friday morning.


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