Summary Box: Nike's 3rd qtr

AP News
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Posted: Mar 17, 2011 6:32 PM

THE RESULTS: Nike Inc. reported that its third-quarter net income rose 5 percent as its sales rose in almost all divisions. That amounted to $1.08 per share on revenue of $5.08 billion.

THE EXPECTATIONS: The results missed analysts' average forecast for earnings of $1.12 per share and revenue of $5.17 billion.

THE REASON: Nike, like many companies, is struggling with higher manufacturing and shipping costs that offset its revenue gains.