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Nike fiscal Q4 profit climbs 15.4% YOY

Nike Inc. said its normalized net income for the fiscal fourth quarter ended May 31 amounted to 37 cents per share, compared with the S&P Capital IQ consensus estimate of 42 cents per share.

EPS rose 17.4% year over year from 32 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $657.5 million, an increase of 15.4% from $570.0 million in the year-earlier period.

The normalized profit margin increased to 8.5% from 7.7% in the year-earlier period.

Total revenue increased on an annual basis to $7.78 billion from $7.42 billion, and total operating expenses climbed year over year to $6.78 billion from $6.49 billion.

Reported net income grew 23.5% from the prior-year period to $863.7 million, or 49 cents per share, from $699.3 million, or 39 cents per share.

For the year, the company's normalized net income totaled $1.49 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.78.

EPS rose 21.5% from $1.22 in the prior year.

Normalized net income was $2.63 billion, a gain of 18.7% from $2.21 billion in the prior year.

Full-year total revenue increased 10.1% year over year to $30.60 billion from $27.80 billion, and total operating expenses grew 9.6% on an annual basis to $26.43 billion from $24.12 billion.

The company said reported net income rose 21.2% year over year to $3.27 billion, or $1.85 per share, in the full year, from $2.70 billion, or $1.49 per share.