NIKE, Inc. Reports Fiscal 2011 First Quarter Results; EPS up 10%

NIKE, Inc. NKE today reported financial results for its fiscal 2011 first quarter ended August 31, 2010. Earnings per share for the quarter were up 10 percent on 8 percent higher net revenue as a result of gross margin expansion driven by the strength of the NIKE, Inc. brands in the marketplace and continued clean inventory positions. --Revenue $5.2 billion; up 8 percent versus prior year or up 10 percent excluding currency changes --Diluted earnings per share up 10 percent from prior year to $1.14 --Worldwide futures orders up 10 percent, up 13 percent excluding currency changes --Inventories down 3 percent versus prior year