The FINANCIAL -- Nike Inc. shares jumped on March 18 after the company reported better-than-expected fiscal third-quarter profit and orders, above analysts’ expectations.

Nike said its third-quarter profit climbed, helped by strong sales in emerging markets. Third quarter revenues increased 7 percent, from $4.4 billion last year to $4.7 billion in the current year. Excluding changes in currency exchange rates, net revenue was up 2 percent compared to the same quarter last year.

"Third quarter net income was $496 million or $1.01 per diluted share, compared to $244 million or $0.50 per diluted share in the same period last year. Results from last year included a $241 million, after-tax non-cash charge related to the impairment of goodwill, intangible and other assets of the Company’s Umbro subsidiary. Excluding this charge, net income and diluted earnings per share both would have increased 2 percent," Nike, Inc. reported.

“We had a great quarter,” said Mark Parker, Nike, Inc. President and Chief Executive Officer. “Today’s results reinforce our belief that when we connect with consumers in deep and meaningful ways from product concepts to how they experience our brands, we win in the marketplace and drive sustainable, profitable growth.”

Nike gained $3.31, or 4.7 percent, to $74.19 at 9:33 a.m. in New York Stock Exchange composite trading, the highest level since November 1982, Bloomberg reports. The shares had gained 7.3 percent this year through yesterday.

According to Market Watch, worldwide orders of shoes and apparel for delivery between March and July rose 9% higher than orders a year ago to $7.1 billion, not excluding currency exchange rates. Wall Street considers the orders an indicator of future sales.

Improved consumer demand, which is shown in January and February's better-than-expected retail numbers, has boded well for Nike (NKE 74.35, +3.47, +4.90%) . While  demand from China and other emerging markets has been key to the company's growth, developed markets such as Western Europe and the United States also have seen a pickup in demand, analysts said, the same source reports. In North America, revenue increased 1%, as sales for apparel grew 6%. Footwear sales in North America fell 1%, though.

According to The Wall Street Journal, sales at Nike's subsidiaries—which include Converse, Cole Haan and Hurley—increased 13%.

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