REPORT_ Under Armour has announced its financial results for the fourth quarter ended December 31, 2013 with net revenue increase of 35 percent to 683 million dollars compared with net revenues of 506 million dollars in the prior year's period. For the full year 2013, net revenues increased 27 percent to 2.33 billion dollars compared with 1.83 billion dollars in the prior year and compared with the company's prior outlook of 2.26 billion dollars. 

Diluted earnings per share for 2013 increased 24 percent to 1.50 dollars compared with 1.21 dollars per share in the prior year. Diluted earnings per share for the fourth quarter of 2013 increased 27 percent to 0.59 dollars compared with 0.47 dollars in the prior year’s period.

Fourth quarter apparel net revenues increased 35 percent to 546 million dollars compared with 405 million dollars in the same period of the prior year, primarily driven by expanded Fleece offerings and new ColdGear Infrared products. Fourth quarter footwear net revenues increased 24 percent to 55 million dollars from 45 million dollars in the prior year's period. Fourth quarter accessories net revenues increased 52 percent to 65 million dollars from 43 million dollars in the prior year's period, primarily driven by headwear and gloves.

Commenting on the results, Kevin Plank, Chairman and CEO of Baltimore-based Under Armour stated, “By any measure, 2013 was a banner year for the UA Brand. We surpassed 2 billion dollars in net revenues for the year, which culminated with our 15th straight quarter of at least 20 percent total growth. In addition, we completed our first acquisition, MapMyFitness, opened our first two UA Brand House retail stores, and continued to make key investments in our Women's, Footwear and International businesses to drive long-term global growth. While we are proud of what we have accomplished to date, we firmly believe we are just getting started and that our performance in 2013 is indicative of the opportunity that lies ahead for Under Armour.”

Apparel net revenues for the year 2013 increased 27 percent to 1.76 billion dollars compared with 1.39 billion dollars in the prior year, led by elevated newness across product categories like HeatGear and Fleece as well as innovation platforms including Storm, ColdGear Infrared and Charged Cotton. Footwear net revenues increased 25 percent and accessories net revenues increased 30 percent, primarily driven by headwear and gloves.

Based on current visibility, the company expects 2014 net revenues in the range of 2.84 billion dollars to 2.87 billion dollars, representing growth of 22 percent to 23 percent over 2013, and 2014 operating income in the range of 326 million dollars to 329 million dollars, representing growth of 23 percent to 24 percent over 2013.

Added Plank saying, “We have tremendous momentum across our business and we will leverage this strength to fuel our global growth ambitions in 2014. To start, we have recently formed partnerships with three sports programs with deep, proud heritages: the University of Notre Dame, the U.S. Naval Academy, and the Colo Colo fútbol team in Chile.”