NIKE Inc reported financial results for the third quarter ended February 28, 2007. For the quarter, revenue grew 9 percent to $3.9 billion, compared to $3.6 billion for the same period last year. Changes in currency exchange rates increased revenue growth by 3 percentage points for the quarter. Third quarter net income grew 8 percent to $350.8 million, compared to $325.8 million in the prior year and diluted earnings per share increased 10 percent to $1.37, versus $1.24 last year.
"We had a strong third quarter. Our mix of compelling product and premium consumer experiences drove a meaningful acceleration of futures orders," said Mark Parker, Nike Inc president and chief executive officer. "We continue to grow because we're innovative, disciplined, and connected to our consumers."
Futures Orders: The Company reported worldwide futures orders for athletic footwear and apparel, scheduled for delivery from March 2007 through July 2007, totaling $6.0 billion, 9 percent higher than such orders reported for the same period last year. Changes in currency exchange rates increased reported orders growth by 1 percentage point.
By region, futures orders for the U.S. increased 8 percent; Europe (which includes the Middle East and Africa) increased 9 percent; Asia Pacific grew 14 percent; and the Americas increased 2 percent. Changes in currency exchange rates increased the reported futures orders growth in Europe and Asia Pacific by 2 percentage points; and in the Americas region decreased reported futures growth by 1 percentage point.
marketing@alchempro.com
