Leading designer, marketer and distributor of authentic athletic footwear NIKE Inc reported financial results for the 2006 fiscal year, ended May 31, 2006. For the fiscal year, revenues grew 9 percent to $15.0 billion, compared to $13.7 billion last year.
Net income increased 15 percent to $1.4 billion, compared to $1.2 billion last year, and diluted earnings per share increased 18 percent to $5.28 versus $4.48 last year. For the fourth quarter, revenues increased 8 percent to $4.0 billion, compared to $3.7 billion for the same period last year.
Fourth quarter net income declined 5 percent to $332.8 million, compared to $349.5 million in the prior year, and diluted earnings per share declined 2 percent to $1.27, versus $1.30 last year. Changes in currency exchange rates reduced revenue growth by 1 percentage point for the full year, and 2 percentage points for the fourth quarter.
NIKE Inc is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly owned Nike subsidiaries include Converse Inc., which designs, markets and distributes athletic footwear, apparel and accessories.