Note: There is a maximum of 200 words per comment. If you wish to post more, please visit our forum.
Nike income up in third quarter
Friday, March 23, 2007 | No comments posted.
BEAVERTON (AP) - Athletic footwear and apparel maker Nike Inc. said Thursday that fiscal third-quarter profit grew 8 percent, helped by higher sales in Europe and favorable currency exchange.
Earnings for the quarter ended Feb. 28 totaled $350.8 million, or $1.37 per share, versus $325.8 million, or $1.24 per share, during the same period last year.
Revenue grew 9 percent to $3.93 billion, from $3.61 billion a year ago. Currency exchange rate changes helped revenue by 3 percent.
Analysts polled by Thomson Financial expected net income of $1.33 per share on revenue of $3.93 billion.
Futures orders for athletic footwear and apparel grew 9 percent to $6 billion, including a 1 percent gain from currency exchange.
U.S. revenue grew 2 percent to $1.5 billion, European revenue rose 15 percent to $1.1 billion, Asia Pacific revenue increased 11 percent to $589.9 million, and sales from the Americas region improved by 5 percent to $212.5 million.
Nike shares gained $1.55, or 1.4 percent, to $110.15, in after-hours trading after closing down 25 cents to $108.60 on the New York Stock Exchange.
Earnings for the quarter ended Feb. 28 totaled $350.8 million, or $1.37 per share, versus $325.8 million, or $1.24 per share, during the same period last year.
Revenue grew 9 percent to $3.93 billion, from $3.61 billion a year ago. Currency exchange rate changes helped revenue by 3 percent.
Analysts polled by Thomson Financial expected net income of $1.33 per share on revenue of $3.93 billion.
Futures orders for athletic footwear and apparel grew 9 percent to $6 billion, including a 1 percent gain from currency exchange.
U.S. revenue grew 2 percent to $1.5 billion, European revenue rose 15 percent to $1.1 billion, Asia Pacific revenue increased 11 percent to $589.9 million, and sales from the Americas region improved by 5 percent to $212.5 million.
Nike shares gained $1.55, or 1.4 percent, to $110.15, in after-hours trading after closing down 25 cents to $108.60 on the New York Stock Exchange.
The comments below are from users of theworldlink.com and do not necessarily represent the views of The World or Lee Enterprises. Participation Guidelines
Note: There is a maximum of 200 words per comment. If you wish to post more, please visit our forum.
Note: There is a maximum of 200 words per comment. If you wish to post more, please visit our forum.
Not already registered?
The World welcomes your comments about stories, and we encourage a robust dialogue on this site. All comments must meet reasonable standards of decency and civility.
Please follow these basic rules:
- No defamatory comments about individuals or businesses.
- No deliberately false information.
- No obscenity or racially offensive language.
- No harassment, verbal abuse, threats or personal attacks.
- No information that invades another person's privacy.
- No business solicitations or charitable solicitations.
Comments that violate these standards will not be posted. Users with repeated violations may be banned from future posting.Comments will be approved throughout the day during business hours. After hours and weekend comments may not appear until the following business day. It may take a couple of hours before comments are approved.
The World generally does not edit comments, but we reserve the right to edit any comment that does not meet our standards.
Close Guidelines