Strong sales of new products and fleece allowed athletic performance brand Under Armour to grow sales 23% to $472 million during its first quarter ended March 31.
Despite the solid increase in sales, the 12th consecutive quarter of revenue growth in excess of 20%, net income tumbled 47% to $8 million, or 7 cents a share, due largely to the timing of marketing expenses associated with the company’s largest ever global marketing campaign.
