Columbia Sportswear Results Top Estimate; Lifts FY14 Guidance; Stock Up 3%

(RTTNews) - Columbia Sportswear Co (COLM) Thursday reported third-quarter net earnings of $65.6 million or $0.93 per share compared with $54.6 million or $0.79 per share last year.

Revenues for the quarter were $675.3 million compared with $523 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.87 per share on revenues of $632.6 million for the quarter. Analysts' estimates typically exclude special items.

For the full year 2014, the company now expects earnings of $1.80 per share on revenues of about $2.06 billion. It earlier expected earnings of $1.61 to $1.69 per share, adjusted for a 2-for-1 stock split, and revenues of $2.01 billion to $2.04 billion.

Analysts expect earnings of $1.76 per share on revenues of $2.02 billion for the year.

For the full year 2015, the company expects sales to grow at a double-digit rate compared with current 2014 sales outlook of about $2.06 billion. Analysts expect sales of $2.2 billion.

Also the company said its board authorized a 7 percent increase in quarterly dividend to $0.15 per share.