(Filed Under Financial and General Interest News). Leading activewear and accessories brand Nike, Inc. reported 18 percent jump in revenue for the first quarter of fiscal 2012.
The 18 percent increase brought the company’s revenue to $6.1 billion. Revenue was up 11 percent on a currency-neutral basis, with 12 percent growth in every market excluding Western Europe, which remained flat.
Reported net income was $645 million, up from $559 million. Earnings per share rose 19 percent to $1.36, up from $1.14 in the prior year’s quarter.
"We’re off to a strong start in fiscal year 2012. We have a powerful and diverse portfolio of brands and businesses, and we’re focused on leveraging them to drive growth and create value for our shareholders," said Mark Parker, president and C.E.O. of Nike. "It pays to be prudent in times like these."
Nike, Inc. is based in Beaverton, Ore.
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