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Under Armour swings to loss in Q2

Under Armour Inc. said its second-quarter normalized net income amounted to a loss of 2 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 6 cents per share.

The per-share result swung to a loss from the prior-year profit of 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $9.7 million, compared with income of $6.7 million in the prior-year period.

The normalized profit margin dropped to negative 0.9% from 0.7% in the year-earlier period.

Total revenue rose 8.7% year over year to $1.09 billion from $1.00 billion, and total operating expenses increased 11.4% on an annual basis to $1.09 billion from $981.4 million.

Reported net income totaled a loss of $13.2 million, or a loss of 3 cents per share, compared to a loss of $53.1 million, or a loss of 12 cents per share, in the year-earlier period.