By  on March 18, 2010

Nike Inc. reported third-quarter profits more than doubled and sales climbed, with revenue in China and other emerging markets leading the way.

For the three months ended Feb. 28, the athleticwear giant said Wednesday income was $496.4 million, or $1.01 a diluted share, compared with $243.8 million, or 50 cents a diluted share, in the year-ago quarter. Analysts were expecting earnings per share at 89 cents. Excluding year-ago aftertax noncash charges of $241 million for impairment of goodwill, intangible and other assets of its Umbro subsidiary, net income would have increased 2.5 percent for the period, the company said.

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