Business
Columbia Sportswear Company Reports Record Third Quarter and First Nine Months 2019 Financial Results; Updates Full Year 2019 Financial Outlook
Third Quarter 2019 Highlights Net sales increased 14 percent (15 percent constant-currency) compared to third quarter 2018, to a record $906.8 million. Gross
About this update from Columbia Sportswear Company
[{"type":"text","content":"\nThird Quarter 2019 Highlights\n\n\n\nNet sales increased 14 percent (15 percent constant-currency) compared to third quarter 2018, to a record $906.8 million.\n\n\n\n\nGross margin expanded 110 basis points to a record 49.3 percent of net sales, compared to third quarter 2018 gross margin of 48.2 percent of net sales.\n\n\n\n\nOperating income increased 18 percent to a record $152.0 million and operating margin expanded 60 basis points to 16.8 percent of net sales, compared to third quarter 2018 operating income of $129.1 million, or 16.2 percent of net sales. Compared to non-GAAP third quarter 2018 operating income of $126.0 million, or 15.8 percent of net sales, operating income increased 21 percent and operating margin expanded 100 basis points.\n\n\n\n\nDiluted earnings per share increased 23 percent to a record $1.75, compared to third quarter 2018 diluted earnings per share of $1.42. Compared to non-GAAP third quarter 2018 diluted earnings per share of $1.41, diluted earnings per share increased 24 percent.\n\n\n\nFull Year 2019 Financial Outlook\n(Financial outlook details can be found in the \"Supplemental Financial Information\" section and CFO Commentary document)\n\n\nFor full year 2019, management currently expects:\n\n\n\nNet sales of $3.01 to $3.04 billion (prior $3.00 to $3.04 billion), representing net sales growth of 7.5 to 8.5 percent (prior 7.0 to 8.5 percent). The net sales outlook includes a foreign currency translation impact that is anticipated to reduce net sales growth by approximately 90 basis points.\n\n\n\n\nOperating income of $392 to $401 million (prior $388 to $396 million), representing operating margin of 13.0 to 13.2 percent (prior 12.9 to 13.0 percent).\n\n\n\n\nDiluted earnings per share of $4.70 to $4.80 (prior $4.65 to $4.75).\n\n\n\nThroughout this press release, amounts stated to be non-GAAP exclude items described in the \"Non-GAAP Financial Measures\" section below. Additionally, constant-currency net sales, a non-GAAP financial measure, is referenced throughout this press release. Please see the \"Supplemental Financial Information\" section and financial tables included below for a more detailed description of this and other non-GAAP financial measures.\n\n PORTLAND, Ore.--(BUSINESS WIRE)--\nColumbia Sportswear Company (NASDAQ: COLM), a leading innovator in active outdoor apparel, fo...