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Nike profit flies high

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High Five
Friday, September 24, 2010

Nike announced a 9 percent profit in the first quarter, and executives are confident the company portfolio has growth potential.

In a conference call, stock analysts appeared to line up to congratulate the company on its quarterly performance: A profit of $559 million, or $1.14 a share, which is up 10 percent from last year. Revenues hit $5.2 billion, up 8 percent over the same period last year. Inventories were down 3 percent versus prior year.

And, in a subject brought up multiple times in the conference call, advance bookings for orders to be delivered over the next several months totaled $7.1 billion -- 10 percent higher than orders reported for the same period last year. That's the highest in more than a decade, said Nike brand president Charlie Denson.

Read more at OregonLive.com.

{biztweet}Nike profit{/biztweet}

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