Reebok acquisition boosts Adidas 4Q

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The company earned 21 million euros ($31.9 million) in the October-December period, up from 13 million euros a year earlier. The result was lower than the 25 million euros ($38 million) that analysts polled by Dow Jones Newswires had forecast.

Sales rose to 2.4 billion euros ($3.7 billion) in the fourth quarter compared with nearly 2.3 billion euros in the final three months of 2006.

For the year, the company earned 551 million euros ($837.9 million), up 14 percent from 483 million euros in 2006, but also below the 555 million euros ($843.9 million) that analysts had forecast.

Sales for the year rose slightly to 10.3 billion euros ($15.6 billion) from 10 billion euros in 2006.

Adidas foresees net income growth of about 15 percent in 2008.

"We will continue to grow both our top and bottom line in 2008," chief executive Herbert Hainer said in a statement.

Adidas shares rose 0.1 percent to 41.40 euros ($62.95) in Frankfurt.

Adidas said it plans to pay out a dividend of 50 euro cents a share, compared with 42 euro cents in 2006.

By unit, the company said its Adidas brand set the pace for growth in 2007, with sales reaching 7.1 billion euros ($10.8 billion) compared with 6.6 billion euros in 2006. Sales at its Reebok unit slipped slightly to 2.3 billion euros ($3.5 billion) last year from nearly 2.5 billion euros in 2006.

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