Under Armour Rallies on Higher Outlook

NEW YORK ( TheStreet) -- Under Armour ( UA) is trading higher after reporting better-than-expected fourth-quarter earnings and upping its full-year forecast.

During the quarter, the athletic footwear and apparel retailer earned $22.9 million, or 44 cents a share, from $15.2 million, or 30 cents, in the year prior. Analysts were looking for a profit of 37 cents a share.

Sales jumped 36% to $301.2 million, also topping Wall Street's estimates of $271.6 million.

Looking ahead, Under Armour now expects 2011 revenue to grow between 25% to 27%, better than the 20% to 25% rate previously predicted.

Shares of Under Armour are advancing 6.8% to $57.52 in early trading.

--Written by Jeanine Poggi in New York.

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