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Nike Net Rises 12% in Fourth Quarter

Nike Inc. posted another strong quarter, as earnings jumped 12 percent on global growth...

Nike Inc. posted another strong quarter, as earnings jumped 12 percent on global growth.

For the fourth quarter ended May 31, net income climbed to $490.5 million, or 98 cents a diluted share, from $437.9 million, or 86 cents last year.

Revenues for the three-month period increased 16 percent to $5.1 billion compared with $4.4 billion.

For the fiscal year 2008, earnings rose 26 percent to $1.9 billion, or $3.74 a diluted share, from $1.5 billion, or $2.93, in fiscal 2007. Sales for the year grew 14 percent to $18.6 billion from $16.3 billion.

The Beaverton, Oregon-based active giant posted its results after the market closed.