Adidas Posts Rise In Q4 Net Profit, Declares Dividend

Adidas AG ADDYY reported a surge in its fourth-quarter net income. Adidas' quarterly profit surged to €18 million ($23.6 million), or €0.09 per share, from €7 million, or €0.03 per share, in the year-ago quarter. Its sales rose to €3.26 billion, from €2.93 billion. However, analysts were expecting a profit of €19 million on revenue of €3.14 billion. Adidas' gross-profit margin declined to 45.6% from 46.5%. For 2011, Adidas' management declared a dividend of €1 per share, a rise of 25% from 2010. Adidas expects 2012 earnings of €3.52 to €3.68 per share. Adidas shares closed at $37.80 yesterday.