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 PORTLAND, Ore. (AP) - Nike Inc. said Tuesday its fiscal fourth-quarter net income jumped 32 percent because of strong gains in overseas markets, subsidiary business and future orders for the world's largest athletic shoe and clothing company.
For the quarter ended May 31, net income reached $437.9 million, or 86 cents per share, up from $332.8 million, or 64 cents per share, for the same period of the prior year. Revenue for the quarter increased 9 percent to $4.4 billion, up from $4 billion a year ago. Currency-exchange rate changes helped boost sales by 2 percentage points for the year and the quarter, the company said.
The Beaverton-based company met Wall Street expectations for the quarter, based on a survey of analysts by Thomson Financial.
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