Under Armour posts 7 percent rise in Q1 revenue

Under Armour said revenue was up 7 percent to 1.1 billion dollars in a first quarter, driven by a 4 percent increase in wholesale revenue to 773 million dollars and a 13 percent increase in direct-to-consumer revenue to 302 million dollars. Gross margin was down 70 basis points to 45.2 percent. While operating income was 8 million dollars, there was a net loss of 2 million dollars and a 0.01 dollar loss in diluted earnings per share.