Business
Columbia Sportswear Company Reports Fourth Quarter and Record Full Year 2019 Financial Results; Provides 2020 Financial Outlook
Fourth Quarter 2019 Highlights Net sales increased 4 percent compared to fourth quarter 2018, to a record $954.9 million. Operating income decreased 9
About this update from Columbia Sportswear Company
[{"type":"text","content":"\nFourth Quarter 2019 Highlights \n\n\n\nNet sales increased 4 percent compared to fourth quarter 2018, to a record $954.9 million. \n\n\n\n\nOperating income decreased 9 percent to $138.6 million and operating margin declined 210 basis points to 14.5 percent of net sales, compared to fourth quarter 2018 operating income of $152.8 million, or 16.6 percent of net sales. Compared to non-GAAP fourth quarter 2018 operating income of $154.5 million, or 16.8 percent of net sales, operating income decreased 10 percent and operating margin declined 230 basis points.\n\n\n\n\nDiluted earnings per share increased 2 percent to $1.67, compared to fourth quarter 2018 diluted earnings per share of $1.63. Fourth quarter 2019 diluted earnings per share includes $0.09 of discrete tax benefits. Compared to non-GAAP fourth quarter 2018 diluted earnings per share of $1.68, diluted earnings per share decreased 1 percent. \n\n\n\n\nThe board of directors approved an 8 percent increase in the company's regular quarterly dividend to $0.26 per share.\n\n\n\nFull Year 2019 Highlights \n\n\n\nNet sales increased 9 percent (10 percent constant-currency) compared to 2018, to a record $3,042.5 million. \n\n\n\n\nOperating income increased 13 percent to a record $395.0 million and operating margin expanded 50 basis points to 13.0 percent of net sales, compared to 2018 operating income of $351.0 million, or 12.5 percent of net sales. Compared to non-GAAP 2018 operating income of $362.4 million, or 12.9 percent of net sales, operating income increased 9 percent and operating margin expanded 10 basis points.\n\n\n\n\nDiluted earnings per share increased 27 percent to a record $4.83, compared to 2018 diluted earnings per share of $3.81. Compared to non-GAAP 2018 diluted earnings per share of $4.01, diluted earnings per share increased 20 percent. \n\n\n\nFull Year 2020 Financial Outlook\n(Financial outlook details can be found in the Full Year 2020 Financial Outlook section below and the CFO Commentary document.)\n\n\nFor 2020, management currently expects:\n\n\n\nNet sales of $3.18 to $3.23 billion, representing net sales growth of 4.5 to 6.0 percent. \n\n\n\n\nOperating income of $399 to $412 million, representing operating margin of 12.6 to 12.8 percent.\n\n\n\n\nDiluted earnings per share of $4.75 to $4.90. \n\n\n\nThroughout this press release, amounts state...