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Columbia 3Q Sales Dipped 1.4% To $410 Million
OCTOBER 27, 2005 --
Columbia Sportswear's 3Q net sales were $409.8 million, a decrease of 1.4%. The company concluded various income tax audits of several tax years that resulted in a non-recurring $5.6 million reduction in 3Q accrued income taxes. 3Q net income was $66.5 million, a 3.1% decrease. 3Q EPS were $1.74, compared to $1.68.
Compared to 3Q04, Other International sales increased 16.5% to $50.2 million, European sales increased 5.6% to $62.1 million, Canadian sales increased 6.3% to $52.6 million, and US sales decreased 7.4% to $244.9 million. Excluding changes in currency exchange rates, Other International sales increased 15.0%, European sales increased 4.7%, and Canadian sales decreased 3.0%. Consolidated net sales for 3Q05 decreased 2.8%, excluding changes in currency exchange rates, compared to the same period of last year.
Sportswear sales increased 16.0% to $125.7 million in 3Q, footwear sales increased 1.8% to $63.8 million, equipment sales increased 5.9% to $1.8 million, accessories sales decreased 8.1% to $17.1 million, and outerwear sales decreased 10.2% to $201.4 million.
Tim Boyle, CEO, commented, "As expected from the fall sales order backlog reported last April, third quarter outerwear and footwear sales were disappointing, offset by increases in sportswear. The competitive environment in our core US outerwear business is intense, and US retail consolidation continues to impact our business. Also as expected, 3Q European sales were weak in our German and Scandinavian markets. We are making investments in these areas to strengthen
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Categories
Sporting goods industry
Outerwear
Income taxes
International sales
Companies
3Q Inc.
Columbia Sportswear Company
Concepts
European sales
net sales
Canadian sales
changes in currency exchange rates
footwear sales
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Tim Boyle
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