Nike Inc. (
NKE)
Q2 2010 Earnings Call Transcript
December 17, 2009 5:00 p.m. ET
Executives
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
Analysts
Robert Drbul - Barclays Capital
Michelle Tan - Goldman Sachs
Kate McShane - Citi Investment Research
Michael Binetti - UBS
Omar Saad - Credit Suisse
Robert Ohmes - Bank of America Merrill Lynch
Christopher Svezia - Susquehanna Financial Group
Sam Poser – Sterne, Agee &Leach
Robert Samuels - Oppenheimer
Thomas Shaw - Stifel Nicolaus
Presentation
Operator
Good afternoon, everyone. Welcome to Nike’s Fiscal 2010 Second Quarter Conference Call. For those who need to reference today’s press release, you will find it at www.nikebiz.com. Leading today’s call is Pamela Catlett, Vice President of Investor Relations.
Before I turn the call over to Ms. 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 for subsequent periods, due to 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 the future numbers.
Finally, participants may discuss non-GAAP financial measures. A 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 Ms. Pamela Catlett, Vice President of Investor Relations. Thank you, ma’am. You may begin.
Pamela Catlett
Thank you. Happy holidays, everyone and thank you for joining us today to discuss Nike’s fiscal 2010 second quarter results. As the Operator indicated, participants on today’s call may discuss non-GAAP financial measures. You will find the appropriate reconciliations in our press release, which was issued about an hour ago and 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 be happy to take your questions. We’d like to allow as many of you to ask questions as possible in our allotted time today, so we would appreciate you limiting your initial questions to two. In the event, you have any additional questions that are not covered by others, please do feel free to re-queue and we will do our best to come back to you. Thanks for your cooperation on this.
With that, I’d like to turn it over to NIKE, Inc. President and CEO, Mark Parker.
Mark G. Parker
Thanks, Pam and happy holidays, everybody. It was about a year ago I told you that Nike would perform well in this challenging economy and expand our lead over our competitors by doing what we do best and that’s delivering superior innovative product, connecting with our consumers, creating compelling marketplace experiences and operating with discipline and efficiency.
