Sportswear giant, Nike Inc, has posted strong financial results for the second quarter ended November 30 2003.

The Oregon, US-based company reported a 13% year-on-year increase in revenues to $2.8 billion and a massive 17.8% surge in net income to $179.1 million.

The most significant boost in sales was experienced in the Asia Pacific region (+18% to $412.7 million), followed by the Americas (+17% to $156.1 million). Revenues climbed 9% in Europe to $848.9 million and rose 5% to $1.09 billion in the US.

Nike said its worldwide future orders for athletic footwear and apparel for delivery December 2003-April 2004 have increased 9.7% to $4.4 billion, compared with the same period last year. Orders for the US are up 1%, Europe (+16%), Asia Pacific (+18%) and the Americas (+11%).

Nike’s chairman and chief executive officer, Philip H. Knight, said: “It was a great quarter. These positive results span most of Nike’s portfolio of businesses and categories. They reflect our management’s ability to lead in innovative product, communication, and operational performance.”  

Looking forward, he added: “We are optimistic the momentum we are seeing in the business, coupled with the improving health of the footwear and apparel industry, is setting the stage for continued profitable growth through the remainder of fiscal 2004.”

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