Nike Inc. (NKE
Q3 2010 Earnings Call Transcript
March 17, 2010 5:00 p.m. ET
Pamela Catlett – Vice President of Investor Relations
Mark G. Parker – President and Chief Executive Officer
Charles D. Denson – President
Donald Blair – Vice President and Chief Financial Officer
Robert Ohmes - Banc of America Merrill Lynch
Michelle Tan – Goldman Sachs
Omar Saad – Credit Suisse
Kate McShane – Citi Investment Research
Michael Binetti – UBS
Brian McGough – Hedgeye Risk Management
Robert Drbul – Barclays Capital
Thomas Shaw – Stifel Nicolaus
Jim Duffy – Thomas Weisel Partners
Good afternoon, everyone. Welcome to Nike''s Fiscal 2010 Third Quarter Conference Call. For those who need to reference today''s press release, you will find it at www.nikebiz.com. Leadings today''s call is Pamela Catlett, Vice President Investor Relations.
Before I turn the call over to Mrs. Catlett, let me remind you that participants on this call will make forward-looking statements based on current expectations and those statements are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed in the reports filed with the SEC, including Forms 8-K, 10-K and 10-Q.
Some forward-looking statements concern future orders that are not necessarily indicative of changes in total revenues or subsequent periods due to a mix of futures and at-once orders, exchange rate fluctuations, order cancellations and discounts which may vary significantly from quarter to quarter.
In addition, it is important to remember a significant portion of NIKE, Inc.''s business, including equipment, most of Nike Retail, NIKE Golf, Cole Haan, Converse, Hurley and Umbro are not included in these futures numbers. Finally, participants may discuss non-GAAP financial measures. The presentation of comparable GAAP measures and quantitative reconciliations are found at Nike''s website.
This call might also include discussion of nonpublic financial and statistical information, which is also publicly available on that site, www.nikebiz.com. Now, I would like to turn the call over to Pamela Catlett, Vice President Investor Relations.
Thank you. Hello everyone and Happy St. Patrick''s Day. Thank you very much for joining us today to discuss Nike''s fiscal 2010 third quarter results. As the Operator indicated, participants on today''s call may discuss non-GAAP financial measures and if we do so, you will find the appropriate reconciliations in our press release, which was issued about an hour ago at our website, nikebiz.com.
Joining us on today''s call will be NIKE, Inc. CEO, Mark Parker, followed by Charlie Denson, President of the NIKE Brand and finally you will hear from our Chief Financial Officer, Don Blair, who will give you an in-depth review of our financial results.
Following their prepared remarks, we will take your questions. We would like to allow as many of you to ask questions as possible in our allotted time. So as usual, we would appreciate you limiting your initial questions to two. In the event, you have additional questions that are not covered by others, please feel free to re-queue and we will do our best to come back to you. Thank you very much for your cooperation on this.
With that, I would like to turn the call over to NIKE, Inc. President and CEO, Mark Parker.
Mark G. Parker
Thanks, Pam and hello everybody. On our last call I said, given what we know about the marketplace and about ourselves, we are well positioned to leverage the power of Global Sports and drive hard against those growth opportunities that have the most impact. Q3 shows this to be the case.
Nike is more than a survivor in these tough economic times. We are able to manage up and through the recession to expand separation for our brands and our businesses. We have returned to top and bottom line growth in our third quarter, both on a real and constant dollar basis.
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