Nike Message Board - Msg: 8416896

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Non-Tech : Nike

NKE 61.19

-0.1%

Dec 30 3:59 PM EST

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To: Brian Malloy who wrote (2318)	3/19/1999 3:45:00 PM
From: Duker	Read Replies (1) of 2403

I am going to listen to the call now. Pretty fully priced here ... I sort of get them to about $2.75 for FY2001 (ends May) ... that is on about $10.1 bn in revs ... and with them reaching there margin goal of 14% a bit ahead of schedule. I think it is a great brand; they have their heads on straight in terms of the cost structure; and the international growth should ultimately help them along -- as opposed to hindering them. Still ... That is a pretty solid 22.5 x's a good (stretch?) number ... though only marginally more profitable than they were in FY96 ... I think people are just willing to embrace this one ... though they certainly were not when I was buying it ... I will ride this one out as a long term holding ... unless it really gets ridiculous from a valuation perspective ... in 10 years I will be happy to own it. I will report back if there was anything interesting on the call. --Duker

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