Columbia Sportswear 2003 Annual Report Download - page 3

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JANUARY฀8,฀2003
Columbia, Sorel Prevail
in Canadian Footwear
Anti-Dumping Case
Columbia Sportswear Company
announced yesterday that it prevailed
in an anti-dumping case filed against
Columbia and its subsidiary Sorel by the
domestic Canadian footwear industry for
the sale of rubber bottomed, cold weather
footwear in the Canadian market. The
Canadian International Trade Tribunal
(CITT) concluded that the dumping
of the aforementioned goods “has
not caused material injury and is not
threatening to cause material injury to the
Canadian footwear industry.” As a result
of this legal victory, all marginal dumping
duties previously imposed on the import
of the boots into Canada from Macao
and Vietnam will be refunded and future
duties will not be imposed.
JANUARY฀29,฀2003
Columbia Sportswear is
Dressing the Slopes in
Style for ESPN’s Winter
X Games VII
Columbia Sportswear Company,
the maker of the Convert®
snowboarding apparel line, is
dressing the slopes of Aspen,
Colorado in style as the official
apparel supplier to ESPN’s Winter
X Games VII.
MARCH฀13,฀2003
Columbia Sportswear
and Mountain Hardwear
Join Forces
Outdoor apparel and footwear
leader Columbia Sportswear
Company announced today that it
has entered into a definitive merger
agreement to acquire Mountain
Hardwear, Inc. for aggregate
consideration of approximately $36
million, including approximately
$30 million in cash and $6
million of debt assumption. The
merger is subject to approval by
the shareholders of Mountain
Hardwear and is expected to close
on March 31, 2003.
JULY฀23,฀2003
Columbia Sportswear
Company Reports Record
Second Quarter 2003
Results
Columbia Sportswear Company, a
global leader in the active outdoor
apparel and footwear industries,
today announced record second
quarter net sales of $152.1 million for
the quarter ended June 30, 2003, an
increase of 22.5 percent over net sales
of $124.2 million for the same period
of 2002. The Company reported
record net income for the second
quarter of $9.4 million, a 25.3 percent
increase over net income of $7.5
million for the same period of 2002.
Earnings per share for the second
quarter of 2003 were $0.23 (diluted)
on 40.6 million weighted average
shares, compared to earnings per
share of $0.19 (diluted) for the second
quarter of 2002 on 40.1 million
weighted average shares.
AUGUST฀6,฀2003
Columbia Sportswear
Signs License
Agreement for Tents
and Sleeping Bags
Columbia Sportswear
Company announced today
that it has signed a license
agreement with NorthPole
LLC for the design,
manufacture and marketing
of camping tents, sleeping
bags and innovative screened
gazebos. The collection will
debut in a select number of
sporting goods stores for the
2004 spring season.
MAY฀20,฀2003
Columbia Sportswear’s
Gert Boyle First
Woman Inducted into
National Sporting
Goods Association Hall
of Fame
Gert Boyle, Chairman and
legendary matriarch of
Portland-based Columbia
Sportswear Company, today
was inducted into the National
Sporting Goods Association
(NSGA) Hall of Fame. Boyle
is the first woman ever
inducted into the prestigious
Hall of Fame.
AUGUST฀7,฀2003
Columbia Sportswear
Announces Plans for
Construction of New
Footwear Distribution
Facility
Columbia Sportswear Company
today announced its intention
to construct a new footwear
distribution center in Henderson
County, Kentucky. This will
be Columbia’s second U.S.-
based distribution center.
The Company expects the
construction of the distribution
center to begin in fall 2003 with
operations commencing in 2005.