The athletic clothing manufacturer posted earnings of $6.2 million, or 12 cents a share for the quarter, up from $3.5 million, or 7 cents a shar,e in the same period last year. Analysts had called for earnings of 8 cents a share.
Revenue for the second quarter came in a $291.3 million compared to $204.8 million in the prior year's period. Analysts' estimates were revenue of $273.4 million.
The company's success was driven by strong revenue growth in all its divisions, boosted by an 81% jump in direct-to-consumer revenue, now representing 27% of its business.
The company also raised its 2011 net revenue projection to a range of $1.42 billion to $1.44 billion, representing 33% to 35% growth over 2010, from its previous estimate of $1.37 billion to $1.39 billion.
Written by Carlton Wilkinson