NEW YORK (TheStreet) -- Nike's (NKE) fourth-quarter and fiscal 2015 results sent the stock sprinting higher in after-hours trading Thursday, leaving analysts celebrating a return to growth for sales of the company's core product but warning about the continued impact of a strong dollar.
The Beaverton, Ore.-based manufacturer of athletic shoes and apparel said revenue was up for both its Nike- and Converse-branded products by 13% and 14% respectively. That growth, coupled with a lower-than-expected tax rate for its fiscal year, more than offset some higher expenses, such as increased selling costs, the company said in a statement.
The dollar's position put pressure on results, particularly estimates for future orders. Worldwide orders through November 2015 were $13.5 billion. Not including foreign exchange fluctuations, that's 13% higher for the quarter; with the currency changes, orders rose 2%. Analysts were expecting an adjusted 10.4% for the fourth, according to data from Consensus Metrix.
After trading closed Thursday, Nike reported adjusted earnings per share of 98 cents on revenue of $7.78 billion for the quarter, higher than the 83 cents on $7.69 billion predicted by an average of analyst estimates from Thomson Reuters. For the year, earnings per share were up 25% to $3.70 on net income of $3.3 billion.
Nike shares are currently up 4.6% at $110 and are up over 14% for the year to date.
This quarter, some analysts used continued demand for the company's products in both the U.S. and abroad, including a rebound in its running footwear arm, to justify higher price targets. Others upped their price targets but kept middling ratings, citing challenges including a strong U.S. dollar and congestion at shipping hubs on the West Coast.
Here's what a few had to say: