P.M. BRIEFING : Nike Reports Higher Earnings
<i> From Times Wire Services </i>
BEAVERTON, Ore. —
Nike Inc. reported earnings today of $67.2 million, or $1.77 a share, in the fiscal fourth quarter ended May 31, up from $36.4 million, or 97 cents a share, for the same period in 1989.
The company also said it had posted record fiscal-year earnings and revenues.
Nike said its earnings for the year topped $242.9 million, or $6.42 a share, up from $167 million, or $4.45 a share last year. Revenues for the year jumped to $2.23 billion from last year’s $1.71 billion, with increases in all major footwear product categories.
