Originally published Wednesday, June 25, 2008 at 12:00 AM
PrintNike profit jumps 12%, but shares sink
Athletic shoe and apparel company Nike says strong growth overseas, particularly in Asia, helped boost its fourth-quarter profit 12 percent...
The Associated Press
PORTLAND — Athletic shoe and apparel company Nike says strong growth overseas, particularly in Asia, helped boost its fourth-quarter profit 12 percent.
But Nike shares fell $3.35, or 5 percent, in after-hours trading after closing unchanged in the regular session today at $65.97.
The Beaverton, Ore.-based company said its net income rose to $490.5 million, up from nearly $438 million in the same quarter last year. Earnings per share jumped 14 percent to 98 cents a share, up from 86 cents per share.
The results exceeded Wall Street's projections. Analysts polled by Thomson Financial expected the company to earn 96 cents a share for the quarter.
Copyright © 2008 The Seattle Times Company
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