BEAVERTON, Ore. — Nike reported that fourth quarter revenues rose 12%t, or 14% on a currency neutral basis, to $6.5 billion, the largest revenue quarter in the company's history. This was a result of higher revenues across every Nke brand geography, key category and product type.
Despite the strong revenue growth, Nike repored that However, diluted EPS for the quarter was down 6% as a result of a lower gross margin, higher SG&A spending, an increase in the effective tax rate and a charge related to restructuring of Nike's Western Europe’s operations to better realign resources against growth opportunities and drive efficiencies.
Revenues for fiscal 2012 were up 16%, or 14% excluding the impact of changes in foreign currency, to $24.1 billion. Diluted EPS for the year increased 8% to $4.73 as a result of strong revenue growth, leverage of SG&A, and a lower average share count, which more than offset the impact of a lower gross margin and higher effective tax rate.
"Fiscal year 2012 demonstrated Nike's greatest strength – innovation. We delivered an amazing number of game-changing products and services that drove record revenue growth," said Mark parker, President and CEO, Nike. "We also delivered solid profit growth for the year despite some headwinds in a challenging global economy, which will continue into the next year. That said, Nike is well positioned and will remain aggressive, flexible and laser-focused on the high-growth opportunities. That's how we continue to deliver long-term profitable growth for our shareholders.”*