Friday, February 03, 2012
Columbia Sportswear announced 2011 fourth quarter profits that were 40% higher than a year earlier.
"In 2011, we achieved many of the financial and operational goals we set at the beginning of the year, despite unfavorable weather and a challenging macro-economic backdrop," Tim Boyle, Columbia's president and chief executive officer, said in a written statement. "Net sales grew 14 percent with double-digit growth from our Columbia, Sorel and Mountain Hardwear brands, as well as from each of our international regions. That growth allowed us to improve the company's profitability, generating operating margin of 8.1 percent of sales compared with 7.0 percent in 2010."
Looking ahead to the remainder of this year, the company said in a news release it expects low single-digit sales and earnings growth. Also, the company said unspecified "cost containment efforts" would improve profitability.
Read more at OregonLive.com.