Columbia Sportswear 2009 Annual Report Download - page 2

Download and view the complete annual report

Please find page 2 of the 2009 Columbia Sportswear annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 85

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85

1
Dear Fellow Shareholders,
If you know anything about Columbia Sportswear, you know that we are
not the kind of company that sits inside and complains about the weather.
Our Weloe to the Greater Outdoors brand campaign is not a fair-
weather call to action. On the contrary, it is a statement about accepting
conditions as they are, strapping on gear designed to overcome those
conditions, and going outside to embrace the Greater Outdoors in all her
variety.
While our 2009 financial results were better than what we expected at the beginning of the year, they were
well below the global potential of our portfolio of outdoor brands.
Consolidated sales of $1.24 billion fell six percent compared with 2008 and net income totaled $67.0 million,
or $1.97 per share, compared with $95.0 million, or $2.74 per share in 2008.
Just as our innovative products help outdoor consumers overcome external conditions, we have been tapping
the talents of our people, and using our financial strength throughout this turbulent economic cycle to invest
in critical strategic initiatives designed to elevate our brands, strengthen our competitive position and
improve our financial results moving forward.
As a result, we believe we are poised for renewed sales growth in 2010 and to begin reclaiming market share
in key markets around the world.
A Beacon of Innovation to Outdoor Enthusiasts
Of all our strategic initiatives, none is more important than our renewed commitment to innovation
that differentiates our brands and our products from opetitors’.
Brands that earn a reputation as the leading innovator in their industry invariably attract the most
passionate and loyal consumers.