Revenue during the quarter grew 22.21 percent to $1,471.57 million from $1,204.11 million in the previous year period. Gross margin for the quarter contracted 129 basis points over the previous year period to 47.47 percent. Total expenses were 86.46 percent of quarterly revenues, up from 85.77 percent for the same period last year. That has resulted in a contraction of 69 basis points in operating margin to 13.54 percent.

Operating income for the quarter was $199.31 million, compared with $171.40 million in the previous year period.

Kevin Plank, chairman and chief executive officer of Under Armour, Inc., stated, "Under Armour is a growth company and our ambitions for the Brand have never been higher. This marks our 26th consecutive quarter of 20+% revenue growth demonstrating the strength of the Under Armour Brand. From the Olympic Games in Rio to the launch of Under Armour Sportswear at New York Fashion Week, the Under Armour Brand continues to extend its reach to new consumers while remaining authentic and rooted in sport. In the third quarter, our key strategies and investments to diversify our portfolio on a global scale were evident across categories, channels, and geographies. In running, we experienced strong global demand for our Slingride and Bandit 2 footwear styles, showcasing the continued expansion of our premium $100+ footwear offerings. Within direct-to-consumer we launched three new e-commerce sites, bringing our total to 30 global sites, as we focus on expanding brand experience and premium offerings for consumers wherever they shop. And finally, we hosted our second tour through Asia with Stephen Curry, where the Brand continues to resonate and drive incredible momentum in new markets."

For financial year 2016, Under Armour, Inc. projects revenue to be $4,925 million. The company forecasts operating income to be in the range of $440 million to $445 million.

The company has spent $316.04 million cash to meet investing activities during the nine month period as against cash outgo of $780.82 million in the last year period.

Cash flow from financing activities was $460.40 million for the nine month period, down 31.06 percent or $207.42 million, when compared with the last year period.

Cash and cash equivalents stood at $179.95 million as on Sep. 30, 2016, up 12.90 percent or $20.56 million from $159.40 million on Sep. 30, 2015.

Working capital increases sharply
Under Armour, Inc. has recorded an increase in the working capital over the last year. It stood at $1,175.16 million as at Sep. 30, 2016, up 27.11 percent or $250.65 million from $924.51 million on Sep. 30, 2015. Current ratio was at 2.38 as on Sep. 30, 2016, up from 2.09 on Sep. 30, 2015.

Cash conversion cycle (CCC) has decreased to 54 days for the quarter from 113 days for the last year period. Days sales outstanding went down to 33 days for the quarter compared with 35 days for the same period last year.

Days inventory outstanding has decreased to 58 days for the quarter compared with 127 days for the previous year period. At the same time, days payable outstanding went down to 37 days for the quarter from 48 for the same period last year.