Columbia Sportswear second-quarter loss widens 7 percent on higher costs
By APThursday, July 22, 2010
Columbia Sportswear 2Q loss widens 7 pct
PORTLAND, Ore. — Columbia Sportswear Co. said Thursday that its second-quarter loss widened, as costs outweighed better sales of its sportswear and outerwear.
The company said it lost $10 million, or 31 cents per share, in the three months ending June 30. That compares with a loss of $9.8 million, or 29 cents per share, a year ago.
Sales rose 24 percent to $221.8 million from $179.3 million. Columbia said it was helped by gains in markets such as the United States and sales of products including its jackets and other outdoor clothing.
But the cost of sales and selling, general, and administrative expenses rose more quickly.
Analysts polled by Thomson Reuters expected a loss of 42 cents per share on sales of $211.5 million.
The company also raised its 2010 net sales outlook to an increase between 14 percent and 16 percent over 2009 figures, based on factors such as its results in the first half of the year and its fall 2010 order backlog. Previously, it expected an increase between 12 percent and 14 percent.
Shares of Columbia closed up $1.96, or 4.2 percent, to $48.22.
