Nike Inc revenues up 12% to $13.7bn for fiscal 2005
28 Jun '05
9 min read
Fourth quarter revenues increased seven percent to $3.7 billion, versus $3.5 billion for the same period last year. Three percentage points of this growth were the result of changes in currency exchange rates. Fourth quarter net income was up 15 percent to $349.5 million, or $1.30 per diluted share, compared to $305.0 million, or $1.13 per diluted share in the prior year.
Commenting on the company's results, William D. Perez, Nike, Inc. President and Chief Executive Officer said, “Fiscal 2005 was a great year. The strength of the Nike brand around the world, the breadth of our Nike Inc portfolio, and the quality of our management team contributed to another year of consistent, profitable growth for our shareholders.
The Nike brand is exceptionally strong, driving full-year revenue gains across all regions and product lines, while Converse and Cole Haan led the growth in our portfolio of other businesses. Today's record earnings were driven by healthy revenue growth and the highest gross margin in the company's history.”
Perez continued, “Looking ahead, our worldwide futures orders for athletic footwear and apparel are strong, up 9.5 percent, with all regions posting increases and U.S. footwear remaining particularly healthy. We're very pleased with the brand strength reflected in these futures results and we see continued potential for profitable expansion across our portfolio of businesses.”
Futures Orders
The Company repol regions posting increases and U.S. footwear remaining particularly healthy. We're very pleased with the brand strength reflected in these futures results and we see continued potential for profitable expansion across our portfolio of businesses.”