Columbia Sportswear earnings down 65 percent

By
Reuters

Published
Apr 23, 2009

CHICAGO, April 23 (Reuters)- Outerwear maker Columbia Sportswear Co (COLM.O) said on Thursday 23 April that quarterly profit fell sharply due to slowing sales in the recession and adverse foreign exchange rates.

The company, whose brands include Columbia Sportswear, Montrail and Pacific Trail, said net profit in the first quarter was $6.9 million, or 20 cents per share, from $19.9 million, or 56 cents per share, a year earlier.

Revenue fell nearly 9 percent to $272 million, the company said. The impact of the stronger U.S. dollar reduced revenue by 5 percent.

Columbia Sportswear's orders for fall product through March 31, a measure called its backlog, fell 15 percent, including a 4 percent negative effect from currency exchange rates. (Additional reporting by Alexandria Sage; Editing by Richard Chang, Leslie Gevirtz)

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Columbia Sportswear earnings down 65 percent

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