Activewear producer Under Armour has posted a 25.4% increase in third quarter net income to US$20m, and raised its outlook for the full-year.

Profit benefited by a $2.3m state tax credit, the company said.

Under Armour, which designs and sells apparel and accessories made from synthetic fabrics, said net revenues increased 46.3% in the quarter of 2007 to $186.9m, from $127.7m in the prior year period.

Apparel sales rose 44.8% in the third quarter, driven by strong growth across men's, women's, and youth, the US company said.

Its compression and training products continued to be the main drivers of revenue growth across the apparel business, while an expanded product assortment in golf and the launch of the mountain product category also made healthy contributions to top line growth, a statement added.

The company increased its outlook for 2007, to revenues in the range of $590m to $600m, an increase of 37% to 39% over 2006, and annual income from operations in the range of $81.5m to $83.0m, an increase of 42% to 45% over 2006.

For 2008, Under Armour believes net revenues and income from operations will exceed the long-term growth targets of 20% to 25%, it added.