Revenue during the quarter grew 6.65 percent to $1,117.33 million from $1,047.70 million in the previous year period. Gross margin for the quarter contracted 64 basis points over the previous year period to 45.23 percent. Total expenses were 99.33 percent of quarterly revenues, up from 96.67 percent for the same period last year. That has resulted in a contraction of 266 basis points in operating margin to 0.67 percent.

Operating income for the quarter was $7.54 million, compared with $34.88 million in the previous year period.

“Our first quarter results were in line with our expectations and were off to a solid start in 2017,” said Under Armour chairman and chief executive officer Kevin Plank. “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."

Under Armour, Inc. expects revenue to be $5,400 million for fiscal year 2017. Under Armour, Inc. projects revenue to grow in the range of 11 percent to 12 percent for the financial year 2017. For fiscal year 2017, the company expects operating income to be $320 million.

The company has spent $91.79 million cash to meet investing activities during the quarter as against cash outgo of $103.16 million in the last year period.

Cash flow from financing activities was $43.56 million for the quarter, down 83.15 percent or $214.95 million, when compared with the last year period.

Cash and cash equivalents stood at $172.13 million as on Mar. 31, 2017, up 9.63 percent or $15.13 million from $157 million on Mar. 31, 2016.

Debt comes down
Under Armour, Inc. has recorded a decline in total debt over the last one year. It stood at $861.05 million as on Mar. 31, 2017, down 7.86 percent or $73.47 million from $934.52 million on Mar. 31, 2016.