Business
Columbia Sportswear Company Reports Record Fourth Quarter and Full Year 2021 Financial Results; Provides Full Year 2022 Financial Outlook; Board Approves 15 Percent Dividend Increase
Fourth Quarter 2021 Highlights Net sales increased 23 percent to a record $1,129.7 million, compared to fourth quarter 2020. Operating income increased 71
About this update from Columbia Sportswear Company
[{"type":"text","content":"\nFourth Quarter 2021 Highlights\n\n\nNet sales increased 23 percent to a record $1,129.7 million, compared to fourth quarter 2020.\n\n\nOperating income increased 71 percent to a record $211.6 million, or 18.7 percent of net sales, compared to fourth quarter 2020 operating income of $123.7 million, or 13.5 percent of net sales.\n\n\nDiluted earnings per share increased 66 percent to a record $2.39, compared to $1.44 in fourth quarter 2020.\n\n\nExited the quarter with $894.5 million in cash and short-term investments and no borrowings.\n\n\nOn January 28, 2022, the Board of Directors approved a 15 percent increase to the quarterly dividend to $0.30 per share.\n\n\nFull Year 2021 Highlights\n\n\nNet sales increased 25 percent to a record $3,126.4 million, compared to 2020.\n\n\nOperating income increased 229 percent to a record $450.5 million, or 14.4 percent of net sales, compared to 2020 operating income of $137.0 million, or 5.5 percent of net sales.\n\n\nDiluted earnings per share increased 229 percent to a record $5.33, compared to 2020 diluted earnings per share of $1.62.\n\n\nNet sales increased 3 percent and diluted earnings per share increased 10 percent, compared to pre-pandemic 2019 levels.\n\n\nThe Company repurchased $165.9 million of common stock during the year.\n\n\nFull Year 2022 Financial Outlook\n\nThe following forward-looking statements reflect our expectations as of February 3, 2022 and are subject to significant risks and business uncertainties, including those factors described under “Forward-Looking Statements” below. Additional disclosures and financial outlook details can be found in the Full Year 2022 Financial Outlook section below and the CFO Commentary and Financial Review presentation.\n\n\nNet sales of $3.63 to $3.69 billion representing net sales growth of 16 to 18 percent compared to 2021.\n\n\nOperating income of $472 to $498 million, representing operating margin of 13.0 to 13.5 percent.\n\n\nDiluted earnings per share of $5.50 to $5.80.\n\n\n \n\n PORTLAND, Ore.--(BUSINESS WIRE)--\nColumbia Sportswear Company (NASDAQ: COLM, the \"Company\"), a leading innovator in outdoor, active and everyday lifestyle apparel, footwear, accessories and equipment products, today announced fourth quarter 2021 financial results for the period ended December 31, 2021.\n\nChairman, President and Chief Executive ...