BEIJING, June 25 (Xinhuanet) -- Nike Inc. reported a 12 percent global decline in forward orders through November from last year, media reported Thursday.

    Nike, the world's largest athletic shoe and clothing company, has responded to the global downturn by slashing expenses, compensating for dwindling sales. It is cutting back on marketing, terminating orders from factories in Asia, and laying off 5 percent of global staff.

    The company said net income in its fiscal fourth quarter, which ended May 31, was 341.4 million U.S. dollars, or 70 cents a share, compared with 490.5 million dollars, or 98 cents a share, a year ago.

    The results included a 144.5 million dollar after-tax charge, related to the job cuts and factory consolidation. Excluding those charges, Nike earned 99 cents a share; analysts had expected 96 cents. Nike's revenue slid 7 percent in the quarter, to 4.7 billion dollars.

    In forward orders by region, the Europe, Middle East and Africa unit had the greatest decline of 24 percent, while American future orders fell 4 percent.

    The company, which vies with Adidas in the global market for high-end athletic gear, warned analysts that 2010 would be challenging, with flat or slightly negative revenues.

    The order decline sent its shares down 4.6 percent to 50.50 dollars in extended trading on Wednesday.

    (Agencies)