KFDA - NewsChannel 10 / Amarillo, TX: newschannel10.comAdidas 3Q net income falls 30 pct to euro213 million

Adidas 3Q net income falls 30 pct to euro213 million

FRANKFURT (AP) - German sportswear company Adidas AG says its net income fell 30 percent in the third quarter on sales declines.

Adidas said Wednesday net income fell to euro213 million ($315 million) in the July-September period from euro302 million in the third quarter of 2008.

Revenue for the period fell to euro2.89 billion from euro3.1 billion in the third quarter of 2008, a 7 percent decrease. Adidas said revenue at its main Adidas brand fell 4 percent in the first nine months of the year to nearly euro5.8 billion. Revenue at the Massachusetts-based Reebok division fell 6 percent in the first nine months to euro1.5 billion.

Adidas said net income and earnings per share for the year are expected to decline, but rise in the second half. It expects a boost from next year's World Cup.

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