WASHINGTON (dpa-AFX) - Columbia Sportswear Co. (COLM) reported that its second quarter net loss narrowed to $7.9 million, or $0.23 per share, from $13.6 million, or $0.40 per share for the same period in 2011.
Net sales were $290.4 million for the quarter, an 8 percent increase compared with net sales of $268.0 million for the same period in 2011. Changes in currency exchange rates reduced the reported sales increase by 1 percentage point.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.30 per share on revenues of $288.44 million for the quarter. Analysts' estimates typically exclude special items.
The company's board of directors authorized a third quarter dividend of $0.22 per share, payable on August 30, 2012 to shareholders of record on August 16, 2012.
The company expects a mid-single digit decline in third quarter net sales, primarily due to the timing shift of shipments to distributors in the second quarter and an anticipated decline in third quarter wholesale net sales, partially offset by higher direct-to-consumer sales. Fourteen analysts have consensus revenue estimate of $ 556.41 million for the third-quarter.
The company continues to expect sales growth of up to 1 percent in fiscal 2012 and operating margin, including restructuring charges of approximately $4.0 million recognized in the first quarter of 2012, comparable to the 8.1 percent operating margin achieved in fiscal 2011. Fifteen analysts have consensus revenue estimate of $1.71 billion for fiscal 2012.
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