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Columbia Sportswear boosts full-year outlook

Columbia Sportswear boosts full-year revenue outlook after posting Q3 results

  • On 6:31 pm EDT, Thursday October 22, 2009

PORTLAND, Ore. (AP) -- Columbia Sportswear Co. raised its full-year revenue Thursday after posting better-than-expected third-quarter results.

The clothing maker said it expects sales to fall 8 to 9 percent for the full year. It previously estimated sales would fall in the low double digits.

Analysts surveyed by Thomson Reuters expect the company based in Portland, Ore., to have full-year sales of $1.18 billion, down almost 12 percent from last year's sales of $1.32 billion.

Also Thursday, the clothing company posted third-quarter results that were well ahead of forecasts.

The company earned $46.9 million, or $1.38 per share on sales of $434.5 million. Analysts expected a $1 per share profit on revenue of $400.3 million.

Columbia shares climbed $2.68, or 6 percent, to $47.49 in after-hours trading after closing at $44.81.

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