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ap

Columbia profit falls 24 pct in Q3

Columbia Sportswear profit falls 24 percent in third quarter, but results trump forecasts

  • On 6:28 pm EDT, Thursday October 22, 2009

PORTLAND, Ore. (AP) -- Columbia Sportswear Co. said Thursday that its third-quarter profit fell 24 percent as sales fell, even though more shoppers bought the company's fall clothing.

For the three months ended Sept. 30, the clothing maker earned $46.9 million, or $1.38 per share. That compares with a profit of $58.3 million, or $1.69 million, during the same period last year.

Sales slipped 4 percent to $434.5 million, down from $452.4 million last year.

Analysts surveyed by Thomson Reuters expected the company to earn $1 per share 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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