(RTTNews) - Under Armour (UAA, UA) reported that its fourth quarter net loss narrowed to $43.4 million from a loss of $67.5 million, prior year. Loss per share was $0.10 compared to a loss of $0.16. Adjusted net loss was $11.17 million compared to a loss of $34.70 million, prior year. Adjusted net loss per share was $0.03 compared to a loss of $0.08. Net revenues declined to $1.17 billion from $1.18 billion, prior year.
In the fourth quarter, the company recorded $8 million in restructuring charges, $13 million of restructuring in cost of goods sold, and $15 million in transformation-related SG&A expenses, for a total of $36 million under Fiscal 2025 Restructuring Plan. The company said it is initiating a targeted extension of the plan, bringing total program costs to approximately $305 million. The company expects the plan to be substantially complete by December 31, 2026.
For fiscal 2027, loss per share is expected to range from breakeven to $0.04. Adjusted earnings per share is expected to range from $0.08 to $0.12. For the first quarter, adjusted per share results are projected from breakeven to $0.02.
In pre-market trading on NYSE, Under Armour shares are down 12.49 percent to $5.15.
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