Nike (NKE) Tops Q1 Views on Strong Sales; Future Orders Rise 13%
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Price: $40.06 +2.48%
Revenue Growth %: -2.9%
Financial Fact:
Gross margin: 4.12B
Today's EPS Names:
SCWO, HSAI, SYRS, More
Revenue Growth %: -2.9%
Financial Fact:
Gross margin: 4.12B
Today's EPS Names:
SCWO, HSAI, SYRS, More
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Nike (NYSE: NKE) shares are getting some air in after-hours trading following a first-quarter earnings beat and solid order log.
Revenue in the quarter increased 17.5 percent to $6.08 billion.
Net income rose 15 percent from $559 million to $645 million, or $1.36 per diluted share.
Analysts on the Street were looking for revenue of $5.75 billion and earnings of $1.21 per share.
Future orders, excluding foreign exchange impacts, increased a sharp 13 percent.
Gross margins compressed 270 basis points to 44.3 percent, which Nike attributes to "higher product costs and a higher mix of off-price revenues sold at a lower margin than the prior year."
Nike reports sales were up across the board on a currency neutral basis, save for it's soccer offerings, which went up against tougher comps stemming from the World Cup.
Futures orders, excluding currency, were up the most in greater China, at 22 percent, while Japan saw a 10 percent drop.
"We’re off to a strong start in fiscal year 2012," commented Mark Parker, Nike CEO. "We have a powerful and diverse portfolio of brands and businesses, and we’re focused on leveraging them to drive growth and create value for our shareholders."
Nike shares are up about 5 percent in late Thursday trading.
Revenue in the quarter increased 17.5 percent to $6.08 billion.
Net income rose 15 percent from $559 million to $645 million, or $1.36 per diluted share.
Analysts on the Street were looking for revenue of $5.75 billion and earnings of $1.21 per share.
Future orders, excluding foreign exchange impacts, increased a sharp 13 percent.
Gross margins compressed 270 basis points to 44.3 percent, which Nike attributes to "higher product costs and a higher mix of off-price revenues sold at a lower margin than the prior year."
Nike reports sales were up across the board on a currency neutral basis, save for it's soccer offerings, which went up against tougher comps stemming from the World Cup.
Futures orders, excluding currency, were up the most in greater China, at 22 percent, while Japan saw a 10 percent drop.
"We’re off to a strong start in fiscal year 2012," commented Mark Parker, Nike CEO. "We have a powerful and diverse portfolio of brands and businesses, and we’re focused on leveraging them to drive growth and create value for our shareholders."
Nike shares are up about 5 percent in late Thursday trading.
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