Reebok International Ltd. (NYSE:RBK) today reported net income for the third quarter ended September 30, 2002 of $53 million or $.81 per diluted share, an earnings per share increase of 23% when compared to net income of $42 million, or $.66 per diluted share in the third quarter of 2001. Net sales for the 2002 third quarter were $912 million, an increase of 8% from 2001 net sales of $847 million. For the Reebok Brand, worldwide sales in the 2002 third quarter increased 9% to $768 million. In the U.S., sales of the Reebok Brand increased 12% to $399 million. Sales for the Company's Rockport subsidiary were $105 million in the third quarter of 2002, compared with last year's third quarter sales of $108 million.
The Company reported that its total worldwide backlog of open customer orders scheduled for delivery from October 2002 through March 2003 for the Reebok Brand increased 14% from the prior year's level. However, this comparison is not indicative of overall future sales trends since it includes the Company's new sports licensing business which did not begin operations until March of 2001. Furthermore, other factors such as cancellations, currency fluctuations and the ratio of future orders to at-once shipments will impact future comparisons. On a constant dollar basis overall backlog for the Reebok Brand increased 12%. The Company currently estimates that sales for the fourth quarter of 2002 will increase in the range of 8% to 11% from the prior year's fourth quarter amounts.
Reebok International Ltd., headquartered in Canton, MA, is a leading worldwide designer, marketer and distributor of sports, fitness and casual footwear, apparel and equipment under the Reebok, Rockport, and Greg Norman Brands and footwear under the Polo Ralph Lauren Brand. Sales for 2001 totaled approximately $3.0 billion.