BEAVERTON, Ore. (June 27, 2008)—Nike, Inc. (NKE) finished its fiscal year ended May 31 with a slam dunk. Revenues jumped 14 percent to 18.6 billion compared to the previous year’s $16.3 billion. Net income skyrocketed to $1.9 billion, a 26-percent increase over the last year’s $1.5 billion.

Nike Women's Vandal Low

Revenues in the fourth quarter were up 16 percent to $5.1 billion versus $4.4 billion for the same period last year. Net income rose 12 percent, from $437.9 million to $490.5 million. Changes in currency exchange rates increased revenue growth by 5 percentage points for the full year and 7 percentage points for the fourth quarter.

“Nike turned in another strong performance in fiscal year 2008,” says president and CEO Mark Parker. “By continuing to deliver compelling consumer experiences, backed by strong operational execution, we’re confident we can deliver long-term profitable growth and create value for our shareholders.”

Future orders for both athletic footwear and apparel total $8.8 billion, an 11-percent improvement over orders reported for the same period last year. Europe’s orders rose 10 percent, while the Asia Pacific region increased 31 percent and the Americas were up 30 percent.

During the fourth quarter, domestic revenues rose 4 percent to $1.7 billion compared to the year-ago quarter’s $1.6 billion. Footwear revenues were up 6 percent to $1.1 billion, and apparel improved 2 percent to $447.9 million. For the full year, U.S. revenues were also up 4 percent to $6.4 billion, with footwear revenues rising 6 percent to $4.3 billion.

Fourth quarter revenues for the European region grew 19 percent to $1.5 billion from $1.3 billion for the same period last year. Footwear revenues increased 17 percent to $889.2 million. Full fiscal year European revenues also grew 19 percent to $5.6 billion, and footwear revenues were up 19 percent to $3.1 billion.

The Asia Pacific region experienced a 39-percent surge in revenues during the fourth quarter hitting $828 million, compared to $596.9 million a year ago. Footwear revenues were up 42 percent to $422 million. For the full fiscal year, Asia Pacific revenues increased 26 percent to $2.9 billion, compared to $2.3 billion last year. Footwear revenues were $1.5 billion, up 29 percent from $1.2 billion last year.

Other business revenues, including Converse Inc., NIKE Golf, Cole Haan, Nike Bauer Hockey, Hurley International LLC, and Umbro Ltd., increased 15 percent to $749.5 million during the fourth quarter. For the fiscal year, revenues rose 15 percent to $2.6 billion.

“Our focus is on working stronger, leaner and smarter through uncertain macroeconomic conditions to maximize our unique potential as a leader and innovator,” Parker concludes “As we complete fiscal 2008, we are better positioned than we ever have been.”

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