Net income was $110 million, or $0.23 per share, compared to $184.4 million, or $0.40 per share, last year. Adjusted net income was $67 million, or $0.14 per share.
Under Armour is changing its fiscal year from December 31 to March 31. Following a three-month transition period (January 1 – March 31, 2022), the company’s fiscal year 2023 will run from April 1, 2022, through March 31, 2023. Consequently, there will be no fiscal year 2022.
For the transition quarter ending March 31, 2022, the company expects revenue to increase at a mid-single-digit rate compared to the previous expectation of a low single-digit rate increase. Diluted EPS is expected to be $0.02-0.03.
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Prior performance
