Columbia Sportswear Company Reports Full Year 2017 Financial Results and 2018 Financial Outlook

Full Year 2017 Financial Summary

  • Record net sales of $2.47 billion, a 4 percent increase compared to full year 2016.
  • Record gross margin of 47.0 percent, compared to 46.7 percent in the prior year.
  • Full year 2017 non-GAAP financial measures exclude Project CONNECT program expenses and discrete costs of approximately $14.9 million, $9.4 million net of tax, or $0.13 per diluted share, and TCJA-related income tax expense of $95.6 million, or $1.36 per diluted share.
  • Record operating income of $263.0 million, and non-GAAP operating income of $277.8 million, compared to $256.5 million in the prior year.
  • Operating margin of 10.7 percent, and non-GAAP operating margin of 11.3 percent, compared to 10.8 percent in the prior year.
  • Net income of $105.1 million, and non-GAAP net income of $210.1 million, compared to $191.9 million in the prior year.
  • Diluted earnings per share of $1.49, and non-GAAP diluted earnings per share of $2.98, compared to diluted earnings per share of $2.72 in the prior year.
  • Record cash and short-term investment balances of $768.1 million at December 31, 2017.
  • Record operating cash flow of $341.1 million.
  • Consolidated inventory of $457.9 million at December 31, 2017, a decrease of $30.1 million, or 6 percent, compared to December 31, 2016.
  • Paid $50.9 million in dividends, and repurchased 665,095 shares for a total of $35.5 million.

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