NIKE, Inc. (NYSE:NKE)’s financial performance for the fourth quarter and full year 2013 were positive based on its recent earnings report. The athletic footwear company said that its diluted earnings per share from continuing operations rose by 27 percent to $0.27 for the fourth quarter, and its full year diluted EPS  increased by 11 percent to $2.69.

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During this period Nike, Inc (NYSE:NKE) generated revenues of $6.7 billion, an increase of 9 percent excluding currency changes and its fiscal 2013 revenue was $25.3 billion, up by 11 percent.

Some Nike Products Outpacing Others

According to the athletic footwear company, the growth of its diluted EPS is faster than its revenue because of the improvement of gross margins, lower effective tax rate, and lower average share count. Nike brand revenue rose by 8 percent, and inventories as increased by 7 percent to $3.4 billion as of May 31. The value of its future orders from June to November 2013 is $12.1 billion, up by 8 percent.

NIKE, Inc. (NYSE:NKE) stated that the Nike brand has experienced growth in each of its product types, and in every country except in western Europe and Greater China during the fourth quarter. According to the company, the Nike brands that recorded highest revenues were running, basketball, men’s training, and women’s training. The company said its sportswear, action sports, and football (soccer) brands experienced slight declines in revenues. Revenues from its other business segments rose by 10 percent.

CEO Mark Parker Credits Innovation

In a statement, President and CEO of Nike Inc. (NYSE:NKE) Mark Parker said, “Fiscal 2013 was a great year for Nike, driven by our innovative products and the power of our brands. And we’re excited about what lies ahead. We have the best leadership team in the industry and a deep innovation pipeline. Both are aligned against our biggest opportunities to drive growth, manage risk and drive long-term shareholder value.”

The athletic footwear company said its gross margin climbed by 110 basis points to 43.9 percent due to pricing actions, reduction of materials costs, and favorable comparisons to the previous year.

According to Nike, Inc. (NYSE:NKE), the brand has 645 DTC stores in operation this year, up from 557 stores a year ago. The company reported that its selling and administrative expenses for fiscal 2013 increased at a faster rate than its revenue. Its effective tax rate for 2013 was 24.7 percent compared with 25 percent for fiscal 2012.

During the fourth quarter Nike, Inc. (NYSE:NKE) repurchased 4.2 million shares worth approximately $242 million. For the entire fiscal year, the company has already bought back a total of 33.5 million shares with a market value of $1.7 billion.

The company completed the divestiture of its Umbro and Cole Haan businesses, which enabled the company to focus its resources on enhancing the growth of the Nike, Jordan, Converse and Hurley brands.