Nike Results Surpass Estimates

(RTTNews) - Nike Inc (NKE), the world's largest athletic shoes and apparel maker, on Thursday reported fourth-quarter net earnings of $865 million or $0.98 per share compared with $698 million or $0.78 per share last year.

The company's revenues for the quarter were up 5% at $7.78 billion compared with $7.43 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.83 per share on revenues of $7.69 billion for the quarter. Analysts' estimates typically exclude special items.

Excluding currency changes, quarterly revenues were up 13 percent compared with a year ago, Nike said.

Its gross margin for the quarter improved to 46.2% from 45.6% a year ago.

As of the end of the quarter, worldwide futures orders for Nike Brand athletic footwear and apparel scheduled for delivery from June through November 2015 totaled $13.5 billion, 2 percent higher than last year.