Revenue during the quarter grew 3.55 percent to $543.79 million from $525.14 million in the previous year period. Gross margin for the quarter expanded 42 basis points over the previous year period to 47.53 percent. Total expenses were 91.17 percent of quarterly revenues, down from 91.57 percent for the same period last year. This has led to an improvement of 40 basis points in operating margin to 8.83 percent.

Operating income for the quarter was $48 million, compared with $44.26 million in the previous year period.

Chief executive officer Tim Boyle commented, "Our first quarter results provide a good start to a year that presents many challenges, especially in the U.S., which has been impacted by customer bankruptcies, liquidations and ongoing efforts by U.S. retailers to rationalize their store fleets and square footage. We were encouraged by the Columbia brand's continued growth in Europe-direct markets during the first quarter and by the SOREL brand's successful launch of an expanded Spring assortment. In addition, our direct-to-consumer businesses were a source of growth in every region."

Updated Fiscal Year 2017 Financial Outlook:
Approximately 3 percent net sales growth compared with 2016 net sales of $2.38 billion, including approximately 1 percentage point negative effect from changes in currency exchange rates; Approximately 3 percent growth in operating income to between approximately $256 million and $265 million, representing operating margin of approximately 10.8 percent; An effective income tax rate of approximately 23.0 percent; and Up to 4 percent growth in net income to between approximately $192 million and $199 million, or $2.72 to $2.82 per diluted share.

The company has spent $45.06 million cash to meet investing activities during the quarter as against cash outgo of $30.80 million in the last year period. It has incurred capital expenditure of $11.25 million on net basis during the quarter, up 12.21 percent or $1.22 million from year ago period.

The company has spent $41.22 million cash to carry out financing activities during the quarter as against cash outgo of $11.12 million in the last year period.

Cash and cash equivalents stood at $556.01 million as on Mar. 31, 2017, up 29.30 percent or $126.01 million from $430 million on Mar. 31, 2016.

Working capital increases
Columbia Sportswear Company has recorded an increase in the working capital over the last year. It stood at $1,062.72 million as at Mar. 31, 2017, up 15.08 percent or $139.27 million from $923.45 million on Mar. 31, 2016. Current ratio was at 5.66 as on Mar. 31, 2017, up from 4.86 on Mar. 31, 2016.

Cash conversion cycle (CCC) has decreased to 66 days for the quarter from 147 days for the last year period. Days sales outstanding went down to 52 days for the quarter compared with 56 days for the same period last year.

Days inventory outstanding has decreased to 63 days for the quarter compared with 145 days for the previous year period. At the same time, days payable outstanding went down to 49 days for the quarter from 54 for the same period last year.