Columbia Sportswear Shares Fall As Q2 Revenue Misses Estimates

(RTTNews) - Columbia Sportswear Company (COLM) reported a second quarter net loss of $8.2 million, or $0.12 per share, compared to a loss of $6.5 million, or $0.09 per share, prior year. On average, 16 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.17 for the quarter. Analysts' estimates typically exclude special items.

Second quarter net sales were $388.8 million, a 2 percent increase compared with net sales of $380.2 million for the second quarter of 2015. Analysts expected revenue of $392.01 million, for the quarter. Global Columbia brand net sales increased 3 percent, or 2 percent constant-currency, to $333.4 million compared with the second quarter of 2015.

Looking forward, the company said it currently expects mid-single-digit percentage 2016 net sales growth, including approximately 1 percentage point negative effect from changes in foreign currency exchange rates, on a base of 2015 net sales of $2.33 billion. The company expects a high-single-digit percentage increase in net income after non-controlling interest, to between approximately $184 million and $191 million, or approximately $2.60 to $2.70 per share.

The board of Columbia Sportswear authorized a regular quarterly dividend of $0.17 per share, payable on September 1, 2016 to shareholders of record on August 18, 2016.

Shares of Columbia Sportswear were down more than 10% after hours.