Nike says overseas sales help boost earnings - East Valley Tribune: Business

Nike says overseas sales help boost earnings

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Posted: Wednesday, March 19, 2008 10:46 pm | Updated: 9:23 pm, Fri Oct 7, 2011.

PORTLAND, Ore. - Nike Inc.'s third-quarter profit jumped more than 30 percent because of strong sales overseas and beneficial currency exchanges, the athletic shoe and apparel giant said Wednesday.

Nike said its net income grew to $463.8 million, or 92 cents per share, up from $350.8 million, or 68 cents per share, in the same quarter of the prior year.

Revenue for the fiscal quarter grew 16 percent to $4.54 billion, up from $3.93 billion.

Changes in currency exchange rates accounted for 6 percentage points of revenue growth for the quarter.

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