Under Armour posts surprise profit

NEW YORK (Reuters) - Under Armor Inc (UA.N) reported a surprise quarterly profit on Tuesday, as double-digit sales growth in its apparel business offset a decline in footwear sales, helping to send shares up 9 percent.

The sports clothing and footwear maker also forecast full-year results above Wall Street estimates.

Net income in its second quarter rose to $1.44 million, or 3 cents per share, from $1.38 million, or 3 cents per share, a year earlier.

Analysts, on average, expected a loss of 2 cents per share, according to Reuters Estimates.

Revenue rose to $164.6 million from $156.7 million.

Clothing revenue rose 16.5 percent to $112 million, while footwear revenue tumbled 18.4 percent to $37.5 million from the year-earlier period when the company launched its Performance Training Footwear.

The company expects 2009 earnings of 80 cents to 82 cents per share on revenue of $810 million. Analysts looked for earnings of 79 cents per share on revenue of $804.9 million.

Under Armor shares rose $2.30 to $27.50 in premarket trading.

(Reporting by Martinne Geller; editing by Jeffrey Benkoe and Derek Caney)