NIKE, Inc. Reports Fiscal 2013 Third Quarter Results

• Revenues from continuing operations up 9 percent to $6.2 billion, up 10 percent excluding currency changes
• Diluted earnings per share from continuing operations up 20 percent to $0.73
• Worldwide futures orders up 6 percent, 7 percent growth excluding currency changes
• Inventories up 4 percent

BEAVERTON, Ore.–(BUSINESS WIRE)– NIKE, Inc. (NYS: NKE) today reported financial results for its fiscal 2013 third quarter ended February 28, 2013. For continuing operations, strong demand for NIKE, Inc. brands propelled double-digit revenue growth on a currency neutral basis, and diluted earnings per share grew faster than revenue due to gross margin expansion, a lower tax rate and a lower average share count.

“Our team delivered strong results in Q3. We did it with a relentless flow of innovation into our key categories,” said Mark Parker, President and CEO of NIKE, Inc. “Given the diversity of our portfolio, we’re able to capture big opportunities that drive sustainable, profitable growth. At the same time we continue to invest in new ways to enhance athletic performance, build strong consumer communities, and improve how we design and manufacture our products. That’s how we increase our potential and drive shareholder value.”*

Third Quarter Continuing Operations Income Statement Review

• 
  Revenues
  for NIKE, Inc. increased 9 percent to $6.2 billion, up 10 percent on a currency-neutral basis. Excluding the impact of changes in foreign currency, NIKE Brand revenues rose 10 percent, with growth in all geographies except Greater China and Japan and in all key categories except Sportswear and Action Sports. Revenues for Other Businesses increased 9 percent as growth at Converse and NIKE Golf more than offset lower revenues at Hurley.
• 
  Gross margin
  increased 30 basis points to 44.2 …read more
  Source: FULL ARTICLE at DailyFinance