NIKE Inc reported financial results for the first quarter, ended August 31, 2006. Revenue grew 9 percent to $4.2 billion, compared to $3.9 billion for the same period last year.
Changes in currency exchange rates increased revenue growth by 2 percentage points for the quarter.
First quarter net income declined 13 percent to $377.2 million, compared to $432.3 million in the prior year and diluted earnings per share declined 9 percent to $1.47, versus $1.61 last year.
Results for the first quarter included a $40.8 million expense, net of taxes, related to the expensing of stock options, which reduced diluted earnings per share by $0.16.
Excluding stock option expense first quarter net income declined 3 percent and diluted earnings per share increased 1 percent to $1.63.
marketing@alchempro.com
