Under Armour Q1 net revenue up 23 percent

For the first quarter ended March 31, 2013, Under Armour’s

net revenues increased 23 percent and net income decreased 47 percent. Gross margin was 45.9 percent compared with 45.6 percent in the prior year's quarter. Diluted earnings per share for the first quarter of 2013 were 0.07 dollar (Rs 3.78) compared with 0.14 dollar (Rs 7.55) per share in the prior year’s period.

Under Armour is based in Maryland. It is a developer, marketer and distributor of branded performance apparel, footwear, and accessories. Kevin Plank, Chairman and CEO of Under Armour, stated, "In the first quarter, we drove growth in excess of 20 percent for the 12th consecutive quarter in total revenues and the 14th consecutive quarter in apparel revenues."

The company expects 2013 net revenues to grow 21 percent to 22 percent over 2012 net revenues, and 2013 operating income to grow 23 percent to 24 percent over 2012 operating income.