Written by StockNews.com

Under Armour Inc. (NYSE: UAA ) early Thursday posted a smaller than expected net loss for the first quarter and backed its full-year outlook.

The Baltimore-based athletic apparel maker reported Q1

• net loss of ($0.01), which was $0.03 better than the Wall Street consensus estimate of ($0.04),
• revenues rose 6.7% from last year to $1.12 billion, edging out analysts’ view for $1.11 billion...
• gross margin fell 70 basis points...which was better than the 100 basis point drop it had expected, to 45.2%.

Looking ahead, Under Armour:

• reiterated its previously announced 2017 guidance for 11% to 12% revenue growth, which equates to about $5.4 billion. That’s in-line with Wall Street expectations for $5.35 billion.
• expects gross margins to be “slightly down” from 2016’s 46.4% level.

Under Armour Chairman and CEO Kevin Plank commented:

“Our first quarter results were in line with our expectations and we’re off to a solid start in 2017.

By proactively managing our growth to deliver superior innovative product, continuing to strengthen our connection with consumers and increasing our focus on operational excellence – we have great confidence in our ability to drive toward our full year targets.”

...Year-to-date, UAA had declined -32.15% prior to today’s report, versus a 7.12% rise in the benchmark S&P 500 index during the same period.

UAA currently has a StockNews.com POWR Rating of D (Sell) and is ranked #26 of 33 stocks in the Athletics & Recreation category.