Hit by some enormous restructuring and impairment charges in Q1, Under Armour reported a net loss of $589,681,000 against income of $22,477,000 for the three months ended Mar. 31 as revenue fell 23% to 930,240,000 from $1,204,722,000. The losses this year included $436,463,000 in one-time charges, which consisted of $301 million in mostly non-cash charges to shut down the New York flagship project, another $84 million in asset writedowns and $51 million in goodwill charges related to operations in Latin America and Canada. The adjusted loss would have been $152 million this year.

While about 85% of the one-time charges of ... Log in to view full article.