Wednesday, March 17, 2010

Nike beats earnings handily, and futures orders bode well...(NKE)

Shares of University of Oregon sugar-daddy athletic giant Nike (NKE) are up 3% in late trading, after a fantastic  q4 2009 earnings report.  Earnings of $1.01 per share came in well above the 89cents expected.  Particularly nice was that EPS beat expectations by a larger margin than did sales, which came in at $4.7billion for the quarter.

Always important are Nike's reported futures orders (expected revenue).  Wall Street is expecting revenue in the current quarter to be up 6.6%, and Nike's numbers imply that estimate to be low:

The Company reported worldwide futures orders for NIKE Brand athletic footwear and apparel, scheduled for delivery from March through July 2010, totaling $7.1 billion, 9 percent higher than orders reported for the same period last year. Excluding currency changes, orders would have increased 6 percent.*
By geography and in total for the NIKE Brand, futures orders were as follows:
Reported Futures OrdersExcluding Currency Changes
North America4%4%
Western Europe11%7%
Central and Eastern Europe-4%-9%
Greater China10%9%
Emerging Markets44%36%
Total NIKE Brand9%6%

Copyright 2010 AlphaNinja

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