NIKE Inc reported financial results for the 2007 fiscal year, ended May 31, 2007. For the fiscal year, revenues grew 9 percent to $16.3 billion, compared to $15.0 billion last year.
Net income increased 7 percent to $1.5 billion, compared to $1.4 billion last year, and diluted earnings per share increased 11 percent to $2.93 versus $2.64 last year. For the fourth quarter, revenues increased 9 percent to $4.4 billion, compared to $4.0 billion for the same period last year.
Fourth quarter net income increased 32 percent to $437.9 million, compared to $332.8 million in the prior year, and diluted earnings per share increased 34 percent to $0.86, versus $0.64 last year. Changes in currency exchange rates increased revenue growth by 2 percentage points for the full year and fourth quarter.
Commenting on results, Mark Parker, Nike Inc President and CEO said, “Nike is a growth company, and fiscal 2007 was no exception. We delivered another record year of revenue, earnings and cash flow. The Nike brand is extremely strong worldwide, and the Nike subsidiaries continue to increase their contribution to the performance of the company.”
“Opportunities for growth at Nike have never been greater,” Parker added. “We have a unique ability to consistently turn consumer insights into performance products and experiences. That's a big part of what distinguishes Nike as the global industry leader.”
The Company reported worldwide futures orders for athletic footwear and apparel, scheduled for delivery from June 2007 through November 2007, totaling $7.7 billion, 12 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.
marketing@alchempro.com
