Under Armour 3rd-quarter Profit Rises

BALTIMORE (AP) — Under Armour Inc. said Tuesday third-quarter profit edged up on higher sales of its athletic apparel and footwear.

Quarterly profit rose 2 percent to $26.2 million, or 52 cents per share, from $25.7 million, or 51 cents per share last year.

Revenue rose 16 percent to $269.5 million from $231.9 million a year ago.

Analysts polled by Thomson Reuters, on average, predicted a profit of 44 cents per share on revenue of $249.9 million.

Sales of apparel rose 7 percent to $215.4 million, while footwear more than doubled to $33 million, from $13.1 million last year.

Under Armour, based in Baltimore, raised its outlook based on the results.