Under Armour 2007 Annual Report Download - page 79

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17. Unaudited Quarterly Financial Data
Quarter Ended (unaudited) Year Ended
December 31,(In thousands) March 31, June 30, September 30, December 31,
2007
Net revenues ........................... $124,329 $120,531 $186,863 $174,838 $606,561
Gross profit ............................ 60,581 59,099 94,517 90,847 305,044
Income from operations .................. 16,037 8,165 33,809 28,254 86,265
Net income ............................ 9,941 5,712 20,030 16,875 52,558
Earnings per share—basic ................ $ 0.21 $ 0.12 $ 0.42 $ 0.35 $ 1.09
Earnings per share—diluted ............... $ 0.20 $ 0.11 $ 0.40 $ 0.34 $ 1.05
2006
Net revenues ........................... $ 87,696 $ 79,965 $127,745 $135,283 $430,689
Gross profit ............................ 44,312 38,207 64,675 68,406 215,600
Income from operations .................. 14,180 3,010 21,983 17,745 56,918
Net income ............................ 8,734 2,424 15,970 11,851 38,979
Earnings per share—basic ................ $ 0.19 $ 0.05 $ 0.34 $ 0.25 $ 0.83
Earnings per share—diluted ............... $ 0.18 $ 0.05 $ 0.32 $ 0.24 $ 0.79
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None.
ITEM 9A. CONTROLS AND PROCEDURES
Our management has evaluated, under the supervision and with the participation of our Chief Executive
Officer and Chief Financial Officer, the effectiveness of our disclosure controls and procedures as of
December 31, 2007 pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934 (the “Exchange Act”).
Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that, as of
December 31, 2007, our disclosure controls and procedures are effective in ensuring that information required to
be disclosed in our Exchange Act reports is (1) recorded, processed, summarized and reported in a timely manner
and (2) accumulated and communicated to our management, including our Chief Executive Officer and Chief
Financial Officer, as appropriate to allow timely decisions regarding required disclosure. Refer to Item 8 of this
report for the “Report of Management on Internal Control Over Financial Reporting.”
There has been no change in our internal control over financial reporting during the most recent fiscal
quarter that has materially affected, or that is reasonably likely to materially affect our internal control over
financial reporting.
ITEM 9B. OTHER INFORMATION
None.
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