Business Desk
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
EARNINGS
NIKE 4Q DOWN 5% ON CONVERSE CHARGE Athletic footwear and apparel designer Nike Inc. reported a 5% drop in fourth-quarter earnings yesterday, as charges related to the Converse arbitration ruling and tighter margins offset an 8% increase in revenue.
Net income declined to $332.8 million, or $1.27 a share, from $349.5 million, or $1.30 a share, last year. Excluding a 12-cent charge for the Converse arbitration ruling, earnings would have been $1.39 a share.
– Associated Press
MERGERS AND ACQUISITIONS
UNIVISION’S BOARD APPROVES $12.3 BILLION SALE TO PRIVATE GROUP Univision Communications Inc.’s board has agreed to sell the nation’s largest Spanish language broadcaster for $12.3 billion in cash to a consortium of investors, the parties involved in the sale announced early yesterday. The company’s shares soared more than 7%. The figure agreed upon late Monday equals $36.25 a share, according, according to a news release on the sale.
– Associated Press
