Nike Q4 EPS +25% on a 10% revenue increase.
Excerpts from the news release
Nike 4Q Net $865M >NKE
DOW JONES & COMPANY, INC. 4:15 PM ET 6/25/15
NIKE, Inc. (NKE) Reports Fiscal 2015 Fourth Quarter and Full Year Results
-- Fourth quarter revenues up 5 percent to $7.8 billion; 13 percent growth excluding currency changes -- Fourth quarter diluted earnings per share up 26 percent to $0.98 -- Fiscal 2015 revenues up 10 percent to $30.6 billion; 14 percent growth excluding currency changes -- Fiscal 2015 diluted earnings per share up 25 percent to $3.70 -- Worldwide futures orders up 2 percent; 13 percent growth excluding currency changes —
Inventories as of May 31, 2015 up 10 percent
BEAVERTON, Ore.--(BUSINESS WIRE)--June 25, 2015--
NIKE, Inc. (NKE) today reported fiscal 2015 financial results for its fourth quarter and full year ended May 31, 2015. Diluted earnings per share for the quarter increased 26 percent as broad-based revenue growth, gross margin expansion and a lower tax rate more than offset increased SG&A investments.
Fiscal 2015 diluted earnings per share rose 25 percent to $3.70, reflecting 10 percent revenue growth, gross margin expansion, a lower tax rate and a lower average share count, which more than offset the impacts of higher SG&A investments.
"Fiscal 2015 was an outstanding year for NIKE(NKE)," said Mark Parker, President and CEO, NIKE, Inc.(NKE) "Our consistent growth is fueled by our connection to the consumer and our ability to deliver innovation at an unprecedented pace and scale. At no time in our history has the growth potential been greater for NIKE(NKE)."*
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Cash and short-term investments were $5.9 billion, $782 million higher than last year as growth in net income and collateral received from counterparties as a result of hedging activities more than offset share repurchases, higher dividends and investments in working capital.
Share Repurchases
During the fourth quarter, NIKE, Inc.(NKE) repurchased a total of 6.8 million shares for approximately $678 million as part of the four-year, $8.0 billion program approved by the Board of Directors in September 2012. As of the end of fiscal 2015, a total of 80.9 million shares had been repurchased under this program for approximately $6.0 billion, at an average cost of $73.55 per share.
* The marked paragraphs contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed from time to time in reports filed by NIKE(NKE) with the S.E.C., including Forms 8-K, 10-Q, and 10-K. Some forward-looking statements in this release concern changes in futures orders that are not necessarily indicative of changes in total revenues for subsequent periods due to the mix of futures and "at once" orders, exchange rate fluctuations, order cancellations, discounts and returns, which may vary significantly from quarter to quarter, and because a portion of the business does not report futures orders. |
