Under Armour reports 28.1% Q3 profit gain

Under Armour Inc. posted healthy third quarter profits on strong sales gains, but it slightly lowered its fullyear outlook due to the economic environment. In the third quarter, net revenues increased 24.1% to
$231.9 million from $186.9 million a year ago.

Third quarter net income increased 28.1% to $25.7 million, or 51 cents a share, from $20.0 million,
or 40 cents, a year ago. Apparel net revenues for the third quarter rose 19.0% to $201.1 million
compared with $169.0 million in the same period of the prior year.

TheWomen's business achieved the strongest percentage rate of growth during the quarter, increasing 27.5% to $50.3 million. Footwear revenues increased to $13.1 million from $2.2 million in the third quarter of 2007, primarily driven by Performance Training Footwear, which launched during the second quarter of 2008.

While the company has delivered strong results for the first nine months of the year, the company is revising its 2008 outlook based on the current economic environment. The company is revising its 2008 net revenues outlook to $750 million to $765 million, an increase of 24% to 26% over 2007.

Additionally, the company is revising its 2008 income from operations outlook to $97.5 million to $104.5 million, an increase of 13% to 21% over 2007. The company had previously anticipated 2008 net revenues in the range of $765 million to $775 million and 2008 income from operations in the range of $104.5 million to $105.5 million

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