Amer Sports misses expectations in Q1, shares fall

HELSINKI, April 24 Thu Apr 24, 2014 6:19am EDT

HELSINKI, April 24 (Reuters) - Finnish sporting goods company Amer Sports on Thursday reported its first-quarter operating profit fell 22 percent from a year ago as the warm weather hit winter-sport equipment sales.

Amer Sports, the maker of Wilson tennis rackets and Salomon skis, said its January-March quarter adjusted operating profit decreased to 20.6 million euros ($28.5 million), down from 26.4 million euros a year earlier and well below the market's average forecast of 29 million euros in a Reuters poll.

The company repeated it expected its profit to increase this year.

Shares in the company fell 1.8 percent to 15.02 euros after the announcement. ($1 = 0.7231 Euros) (Reporting by Sakari Suoninen; Editing by Jussi Rosendahl)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article