Nike reports Q3 earnings per share up 57%'; global futures orders up 10%

Revenues for the quarter, which ended 29th February, grew 21 percent to $2.9bn. In the financial results webcast at nikebiz.com, Nike execs talked about rolling out a marketing campaign to coincide with the Tour de France. Lance Armstrong rides in Nike clobber and shoes, and is aiming for a historic sixth yellow jersey.
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Third quarter revenues increased 21 percent to $2.9bn, versus $2.4 billion for the same period last year. Third quarter net income totaled $200.3m, or $0.74 per diluted share, compared to $124.7 million, or $0.47 per diluted share, in the prior year.

Philip H. Knight, chairman and CEO said:

“It was another great quarter for Nike. Top and bottom line results were again driven by healthy consumer demand for innovative products and the strength of Nike’s diverse portfolio of businesses. For the first nine months of the year, Nike’s revenue has grown 14 percent and earnings per share* are up 29 percent. As we look ahead, we are optimistic about the significant long-term growth opportunities for our company.”

Nike reported worldwide futures orders for athletic footwear and apparel scheduled for delivery from March 2004 through July 2004, of $4.7bn, 9.9 percent higher than such orders reported for the same period last year. Approximately four points of this growth were due to changes in currency exchange rates.

http://www.nikebiz.com

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