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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Joseph G. who wrote (6308)	9/17/1998 5:14:00 PM
From: yard_man	Read Replies (1) \| Respond to of 86076

Asia don't count for jack -- just ask Phillip Knight: hursday September 17, 4:52 pm Eastern Time Earnings-Nike Beaverton Nike said net income for the period, which ended Aug. 31 and was the first quarter of its fiscal year, fell to $163.8 million, or 56 cents a diluted share, compared with $253.1 million, or 85 cents a share a year earlier. Revenue fell 9 percent to $2.5 billion from $2.8 billion. The results, while sharply lower, nevertheless exceeded the expectations of Wall Street analysts who on average had estimated the company would earn 48 cents a share, according to First Call Corp., which compiles anslysts' estimates. Chairman Philip Knight said earnings were bolstered by ''lower-than-expected spending'' levels in the first quarter, but he warned that spending could increase in the current second quarter. Nike reported its worldwide ''futures'' orders for products to be delivered from September through January fell 15 percent from year-earlier levels to $3.2 billion, with Asia-Pacific orders off 56 percent.