Nike Announced Earnings Per Share Of $1.12 Per Share In The First Quarter.

Nike (NIKE, Inc.) released its first quarter financial results for the year ended August 31, 2007 in September 21st.

First quarter revenue was $4 billion 700 million, an increase of 11% over the same period of $4 billion 200 million a year ago.

In the quarter, the change in exchange rate increased revenue by 3 percentage points.

The net surplus in the first quarter was $569 million 700 thousand, an increase of 51% over the same period of 377 million 200 thousand US dollars in the same period last year.

Diluted earnings per share were $1.12, an increase of 51% over the previous year's US $0.74.

The effective tax rate in the first quarter included a one-time tax credit related to past losses abroad, which contributed $0.20 to the diluted earnings per share.

Today, the company has taken relevant measures to achieve this tax credit, making the effective tax rate in the quarter reduced by about 15.6 points.

Mark, President and chief executive of Nike, said: "we have made a good start. Our first quarter results reflect the strong strength of our brand and the strength and diversity of Nike's product portfolio" MarkParker ", Nike.

We have a rapid development plan to achieve US $23 billion in revenue in fiscal year 2011, and we are making steady progress towards this goal.

"As we continue to implement our priority long-term development plan, we will become a leading market leader in our efforts to create innovative products and bring new impetus and energy to the retail industry," he continued.

Pre orders, the company announced a total of $5 billion 900 million in advance orders for global sporting footwear and apparel, an increase of 11.5% over the same period last year.

The order is scheduled to be delivered from September 2007 to January 2008.

Exchange rate changes contributed 1 percentage points to the growth of pre order orders.

In the region, the us advance order grew by 3%; Europe (including the Middle East and Africa) and the Asia Pacific region increased by 17%; the Americas grew by 20%.

The exchange rate change has resulted in an increase of 3 percentage points in the published European order, and the advance order in the Asia Pacific region has increased by 1 percentage points.

In the Americas, exchange rate changes have not had a significant impact on the growth of announced orders.

Regional highlights, US revenue grew 2% in the first quarter to $1 billion 638 million 400 thousand, compared with $1 billion 601 million 900 thousand in the same period last year.

In the United States, the revenue of sneakers increased by 4% to $1 billion 119 million 900 thousand.

Clothing revenue fell by 1% to $428 million.

Equipment revenue fell by 1% to $90 million 500 thousand.

America's pre tax surplus dropped by 2% to $347 million 300 thousand.

European Europe's first quarter revenue grew by 16% to $1 billion 477 million 700 thousand, compared with $1 billion 270 million 900 thousand in the same period last year.

The change in currency exchange rate has increased revenue by 7 percentage points.

Footwear revenue increased by 17% to $791 million 900 thousand.

Clothing revenue increased by 16% to $567 million, and equipment revenue increased by 14% to $118 million 800 thousand.

Pre tax surplus increased by 21% to $375 million 500 thousand.

In the Asia Pacific region, the Asia Pacific region's first quarter revenue grew by 22% to $630 million 800 thousand, compared with $518 million 400 thousand in the same period last year.

The change in currency exchange rate contributed two percentage points to revenue growth.

Footwear revenue increased by 25% to $332 million 100 thousand, and apparel revenue increased by 20% to $240 million 500 thousand, while equipment revenue increased by 13% to 58 million 200 thousand US dollars.

Pre tax surplus increased by 52% to $15 thousand and 950.

The Americas Americas grew by 15% in the quarter and increased to $279 million 500 thousand, an improvement over the 2007 US $242 million 500 thousand in the first quarter of the fiscal year.

The currency exchange rate contributed 4 percentage points to this growth.

Footwear revenue increased by 15% to $198 million 400 thousand, while garment revenue increased by 14% to $58 million 300 thousand, while equipment revenue increased by 20% to 22 million 800 thousand US dollars.

Pre tax surplus increased by 16% to $57 million 900 thousand.

Other sectors in the first quarter, including CONVERSE (ConverseInc.), NIKEGolf, ColeHaanHoldingsIncorporated, NIKEBauerHockeyCorp., HurleyInternationalLLC and ExeterBrandsGroupLLC, accounted for $6.287 in revenue from other sectors, up 12% from 560 million 400 thousand last year.

The pre tax surplus increased by 9% in the quarter to $95 million 200 thousand.

The first quarter of last year included a profit of $14 million 200 thousand from the CONVERSE arbitration process, and the other business sector's pre tax surplus increased by 30%, excluding this gain.

The company also announced plans to study the sale of NikeBauerHockey today.

After a strategic assessment of its subsidiary brand portfolio, Nike decided that despite the strong performance of the NikeBauerHockey department, the Department was not in line with Nike's long-term growth priority plan, and the sale of the Department was the best strategic choice.

The company expects that the research process and any potential sale that maximizes the value of NikeBauerHockey to Nike will be completed in the current fiscal year.

In a commentary on the projected sale, Parke said: "we are committed to investing in the resources of the Nike brand and its strong affiliate brand portfolio, so that we can get the most return.

We believe that this is the right choice when we maximize our opportunities and move towards our long-term growth goals.

In view of the market leading position of NikeBauer, we believe we can effectively complete the paction. "

The gross profit margin in the quarter was 44.8%, compared with 44.1% in the same period last year.

Sales and management costs accounted for 30.8% of the first quarter revenue, unchanged from the same period last year.

The effective tax rate dropped significantly to 15% in the first quarter, mainly attributable to the above one time tax relief.

At the end of the quarter, the global balance sheet remained at $2 billion 200 million, up less than 1% in August 31, 2006.

At the end of the quarter, cash and short-term investments amounted to $2 billion 800 million, compared with $1 billion 700 million in the same period last year.

In the first quarter of share repurchase, the Company repurchased 5757101 shares valued at about $321 million 500 thousand, which is part of the 4 year repurchase 3 billion dollar stock repurchase program approved by the company's board of directors in June 2006.

By the end of the first quarter, Nike had bought 23 million 800 thousand shares worth about 1 billion 100 million dollars under the plan.

Headquartered in Beaverton, Oregon, Nike is the world's leading designer, distributor and distributor of high quality sports footwear, clothing, equipment and accessories, producing products for all kinds of sports and fitness activities.

Nike's wholly-owned subsidiaries include CONVERSE, which designs, distributes and distributes sports footwear, clothing and accessories; ColeHaan, the leading luxury footwear, luggage, accessories and coats, design and distributor; the leading hockey equipment designer and distributor NIKE Bauer Hockey Inc.; Hurley International LLC for design, sale and distribution of extreme sports and youth fashion footwear, clothing and accessories; and Exeter Brands Group Group for the design and sale of footwear and clothing for retail channels.