Columbia shareholders sport a 3 for 2 stock split

After the closing bell, Columbia Sportswear Company (Nasdaq:COLM) announced the Board of Directors' approval of a 3-for-2 stock split on the Company's common shares. The payable date is slated for June 4 for shareholders of record as of May 17, at which time one additional common share will be issued for every two shares owned.

Based in Portland Oregon, Columbia currently has 25.9 million shares outstanding, 6.5 million in the float, and 50 million are authorized. This marks the first-ever stock split since the Company went public in 1998 and adds to the slew of positive news issued on COLM last week.

On Thursday, Columbia boasted strong first quarter results and a favorable outlook for 2001, expecting revenues to grow 21 to 23 percent, and net income to rise by at least 26 percent. Additionally, Columbia received an upgrade by JP Morgan to a BUY rating and Lehman Brothers raised the 12-month price target to $80 from $70.

COLM closed up +0.99 to a new 52-week high of $70.21 on Wednesday.

About the Company:

Founded in 1938, Columbia Sportswear Company is a global leader in the design, sourcing, marketing and distribution of active outdoor apparel and footwear. As one of the largest outerwear manufacturers in the world and the leading seller of skiwear in the United States, the Company has developed an international reputation for quality, performance, functionality and value. (company press release)

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