NEW YORK (CNN/Money) -
Nike Inc. reported that earnings in the quarter ended last month rose 28 percent, topping forecasts, as the maker of athletic apparel and footwear said orders through November are picking up.
Nike, based in Beaverton, Ore., said its fourth-quarter profit rose to 77 cents per diluted share, or $208 million, from 60 cents, or $163 million, in the year-ago period.
Analysts surveyed by First Call were looking for a profit of 75 cents a share.
"We enjoyed growth across footwear, apparel and equipment in each of our international regions," CEO Philip H. Knight said in a statement. "Equally important, we delivered significant improvement in our USA results by re-invigorating our USA footwear business, reducing inventory, and building a solid foundation in our apparel business."
Sales for the quarter ended May 31 increased 8 percent to $2.7 billion.
Nike (NKE: Research, Estimates) shares rose $2.34 to $51.42 ahead of the results, which were released after the closing bell.
For the year, Nike's sales rose 4 percent to $9.9 billion. The full-year profits climbed to $668 million, or $2.46 per diluted share, from $590 million, or $2.16 per diluted share, in 2001.
Looking ahead, the company said worldwide futures orders for athletic footwear and apparel for delivery between June and November rose 7 percent, to $4.6 billion, from the same period a year ago.