Charged Cotton Contributes to Revenue Growth for Under Armor
Company sees revenue increase of 23 percent in the first quarter of 2012.
April 24, 2012
Net revenues of Under Armour, Inc. increased 23% in the first Quarter of 2012 to $384 million as against $313 million of the first quarter last year.
New technologies such as Charged Cotton performance wear, ColdBlack, Armour Bra, Charge RC running shoes, etc. have contributed to the enhanced financial performance of Under Armour.
In a statement released on April 20, Kevin Plank, Chairman & CEO of Under Armour stated, “First quarter results underscore that we bring innovation and value to our product, we win with the consumer.”
Under Armour expects 2012 net revenues in the range of $1.78 to $1.80 billion.
Under Armour collaborated with U.S. cotton grower funded Cotton Incorporated and released value-enhanced Charged Cotton products.
Under Armour, Inc. is an athletic and performance wear company founded by Kevin Plank, a former University of Maryland football player.