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Nike Profit Rises 24% on Sales in U.S., Asia

June 25, 2004|From Bloomberg News

Nike Inc. said fourth-quarter earnings increased 24%.

Net income rose to $305 million, or $1.13 a share, from $246.2 million, or 92 cents, a year earlier, the Beaverton, Ore.-based firm said. Sales rose 17% to $3.49 billion, helped by the falling dollar and last year's purchase of Converse Inc.

Shares rose 11 cents to $72.40 on the New York Stock Exchange.

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