• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

Q1 results demonstrates power of NIKE growth strategy

22 Dec '10
4 min read

The effective tax rate was 25.0 percent compared to 23.6 percent for the same period last year. The effective tax rate was higher due to a larger percentage of pretax income coming from operations in the United States, which has a higher effective tax rate than operations abroad.

Net income increased 22 percent to $457 million and diluted earnings per share increased 24 percent to $0.94, reflecting higher net income and an approximate 1 percent decline in the number of diluted weighted average common shares outstanding.

November 30, 2010 Balance Sheet Review

Inventories for NIKE Inc were $2.3 billion, up 8 percent from November 30, 2009.

Cash and short-term investments at period-end were $4.8 billion, 19 percent higher than last year mainly as a result of higher net income.

Share Repurchases

During the second quarter, the Company repurchased a total of 3.5 million shares for approximately $280 million as part of the Company's four-year, $5 billion share repurchase program, approved by the Board of Directors in September 2008. As of the end of the second quarter the Company has purchased a total of 17.4 million shares for approximately $1.3 billion under this program.

NIKE Inc

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search