nike

MANAGEMENT DISCUSSION AND ANALYSIS HIGHLIGHTS In pecuniary family 1999, rape up income increased 13% to $451.4 meg, or $1.57 per diluted share. straighten out income include a bread pre-tax restructuring raise up of $45.1 million, $27.3 million after(prenominal) taxes, or $0.10 per diluted share. Excluding financial years 1999 and 1998 restructuring charges, financial 1999 cabbage income remained constant quantity with the old year. Fiscal year 1999 revenues declined for the depression time in quint years, dropping 8% to $8.78 billion. unadulterated margins as parting of revenues ameliorate to 37.4%, compared to 36.5% in the anterior year. exchange and administrative expenses dropped by just about $ two hundred million or 7.5%, and were 27.6% of revenues compared with 27.5% in the forward year. RESULTS OF OPERATION Fiscal 1999 Compared To Fiscal 1998 contempt an overall revenue decline, cabbage income increased 13% over the foregoing year. An improved rank margin percentage, reduced backchat and administrative expenses, along with a lower net restructuring charge in fiscal 1999 compared to the prior year, primarily drove this increase. Excluding two the 1999 and 1998 restructuring charges, our net income was copulationly horizontal year on year.

Continued toll control activities and the tack unitedly of improved inventory levels on our margins were key factors that offset the effect up of reduced revenues. Revenues decreased for the get-go time in quintuplet years. In the United States, revenues declined by 8%, Asia Pacifics revenues reduced by over a terce compared to last year, while europium revenues increased 8%. We put a considerable effect of effort into improving product buying patterns and, as a result, the composition and levels of inventory resulted in improved gross margins intercourse to a year ago. The activities associated with the fiscal 1998 restructuring charge helped to reduce marketing and administrative expenses in fiscal 1999 by nearly $cc million. We continue to evaluate our appeal structure in eagle-eyed of existing and planned revenue...If you indirect request to get a coarse essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper