Nike revenues increase

Sporting goods retailer Nike Inc reported a double-digit increase in revenues for the fiscal year 2005. Earnings per share were up 28 per cent to $ 4,48 (GBP 2,46) and worldwide futures orders increased by 9.5 per cent.

Earnings for the fiscal year 2005 were up 12 per cent to $13.7 billion, compared with $12.3 billion in fiscal 2004. Revenues for the fourth quarter climbed 7 per cent, with earnings per share up 15 per cent to $1,30. Revenues for the full year increased across the board. All regions posted record revenues and profits.

Nike Inc. other business saw a 22 per cent increase in full-year revenues, exceeding $1.7 billion. The company's balance sheet was strengthened by cash and short term investments rising to $1.8 billion. Full net income for 2005 grew 28 per cent to $1.2 billion as opposed to $945.6 million in 2004.