LONDON, UK / ACCESSWIRE / March 14, 2018 / Active-Investors.com has just released a free earnings report on Columbia Sportswear Co. (NASDAQ: COLM). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=COLM. Columbia Sportswear reported its fourth quarter and fiscal 2017 operating and financial results on February 08, 2018. The maker of outdoor gear achieved record annual revenue and provided guidance for the full year 2018.Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Columbia Sportswear most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
Columbia Sportswear announced record fourth quarter net sales of $776.0 million for Q4 2017, reflecting an 8% growth, compared with net sales of $717.4 million for Q4 2016. The Company's reported numbers topped analysts' estimates of $761.7 million.
During Q4 2017, Columbia Sportswear delivered record gross margin of 47.9% compared to 47.1% in Q4 2016. The Company's reported quarter operating income was a record $109.4 million and non-GAAP operating income was $115.6 million compared to $100.4 million in the prior year's same quarter.
For Q4 2017, Columbia Sportswear posted GAAP net loss of $7.1 million, or $0.10 loss per share, and non-GAAP net income was $92.5 million, or $1.31 per diluted share, compared to net income of $84.7 million, or $1.20 per diluted share, in Q4 2016. The Company's non-GAAP financial measures exclude Project CONNECT program expenses and discrete costs of approximately $0.05 per diluted share, and Tax Cuts and Jobs Act (TCJA) related income tax expense of $1.36 per diluted share. Columbia Sportswear's earnings beat Wall Street's estimates of $1.11 per share.
For the full year 2017, Columbia Sportswear's net sales grew 4% to a record $2.47 billion compared to $2.38 billion in FY16.
Columbia Sportswear's net income was $105.1 million, or $1.49 per diluted share, and non-GAAP net income was $210.1 million, or $2.98 per diluted share, in FY17 compared to net income of $191.9 million, or $2.72 per diluted share, om FY16.
Columbia Sportswear's Segment Results
On geographical basis. the US region's net sales increased 8% to $492.6 million on a y-o-y basis, reflecting growth in direct-to-consumer and benefits from a shift in the timing of shipments of Fall 2017 advance wholesale orders from Q3 2017 to Q4 2017.
For Q4 2017, the Latin America/Asia Pacific (LAAP) region's net sales rose 2% to $154.3 million, including net sales growth with LAAP distributors in China, in Japan, and essentially flat net sales in Korea. The Company's Europe/Middle-East/Africa (EMEA) region's net sales advanced 19% to $83.5 million on a y-o-y basis, including an increase in net sales in Europe-direct and to EMEA distributors. Columbia Sportswear's Canada net sales jumped 14% to $45.6 million on a y-o-y basis.
Segmenting the results on a brand basis, the Global Columbia brand's net sales gained 9% to $602.4 million in Q4 2017. Columbia Sportswear's Global SOREL brand's net sales climbed 10% to $113.9 million, while Global prAna brand's net sales increased 8% to $30.4 million in the reported quarter. The Company's Global Mountain Hardwear brand net sales dropped 9% to $28.4 million on a y-o-y basis.
Cash Matters
During FY17, Columbia Sportswear generated $341.1 million in operating cash flow, invested $53.4 million in capital expenditures, paid dividends of $50.9 million, and repurchased 665,095 shares for a total of $35.5 million.
At December 31, 2017, Columbia Sportswear's cash and short-term investments totaled $768.1 million compared to $551.9 million at December 31, 2016. The Company's consolidated inventory of $457.9 million at December 31, 2017, represented a drop of 6% on a y-o-y basis.
Outlook
For FY18, Columbia Sportswear is forecasting net sales growth of approximately 5.5% to 7.5% compared to net sales of $2.47 billion in FY17. The Company is projecting operating income between approximately $263 million and $273 million and non-GAAP operating income between approximately $290 million and $300 million for FY18.
Stock Performance Snapshot
March 13, 2018 - At Tuesday's closing bell, Columbia Sportswear's stock slightly fell 0.13%, ending the trading session at $77.49.
Volume traded for the day: 211.42 thousand shares.
Stock performance in the last month - up 1.03%; previous three-month period - up 12.09%; past twelve-month period - up 39.42%; and year-to-date - up 7.80%
After yesterday's close, Columbia Sportswear's market cap was at $5.23 billion.
Price to Earnings (P/E) ratio was at 47.63.
The stock has a dividend yield of 1.14%.
The stock is part of the Consumer Goods sector, categorized under the Textile-Apparel Clothing industry.
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