Revenue during the quarter went up marginally by 2.58 percent to $717.45 million from $699.41 million in the previous year period. Gross margin for the quarter expanded 175 basis points over the previous year period to 47.07 percent. Total expenses were 86.01 percent of quarterly revenues, down from 88.23 percent for the same period last year. This has led to an improvement of 223 basis points in operating margin to 13.99 percent.

Operating income for the quarter was $100.40 million, compared with $82.29 million in the previous year period.

Tim Boyle chief executive officer commented, "We are very proud of our fourth quarter and full year 2016 performance against a challenging backdrop in many of our largest markets. Record net sales, record gross margins, record operating income, expanded operating margin, and record net income reflect our powerful brand portfolio, robust operational platforms and disciplined prioritization of investments."

For financial year 2017, Columbia Sportswear Company projects net income to be in the range of $192 million to $200 million. The company forecasts operating income to be in the range of $260 million to $270 million. The company expects diluted earnings per share to be in the range of $2.72 to $2.82.

The company has spent $49.89 million cash to meet investing activities during the year as against cash outgo of $43 million in the last year. It has incurred net capital expenditure of $49.89 million on net basis during the year, down 28.50 percent or $19.88 million from year ago.

The company has spent $42.02 million cash to carry out financing activities during the year as against cash outgo of $91.24 million in the last year period.

Cash and cash equivalents stood at $551.39 million as on Dec. 31, 2016, up 49.12 percent or $181.62 million from $369.77 million on Dec. 31, 2015.

Working capital increases
Columbia Sportswear Company has recorded an increase in the working capital over the last year. It stood at $1,049.17 million as at Dec. 31, 2016, up 18.78 percent or $165.85 million from $883.32 million on Dec. 31, 2015. Current ratio was at 3.89 as on Dec. 31, 2016, up from 3.41 on Dec. 31, 2015.

Cash conversion cycle (CCC) was almost stable at 54 days for the quarter, when compared with the last year period. Days sales outstanding went down to 21 days for the quarter compared with 24 days for the same period last year.

Days inventory outstanding has increased to 59 days for the quarter compared with 57 days for the previous year period. At the same time, days payable outstanding was almost stable at 26 days for the quarter, when compared with the previous year period.