UPDATE 2-Nike orders disappoint, shares drop

* Adjusted Q4 EPS 99 cents vs Street's 96 cents

* Q4 revenues down 7 percent

* Forward orders down 12 percent

* Shares slide 4.1 percent in after-hours trade (Adds CEO quote, analyst comment, order details; updates share movement)

By Alexandria Sage

SAN FRANCISCO, June 24 (Reuters) - Nike Inc (NKE.N) reported a worse-than-expected global decline in forward orders sending shares of the world's largest athletic shoe and clothing company down 4.1 percent.

Orders through November fell 12 percent from the prior year, or a 5 percent fall excluding currency changes. Sterne Agee analyst Sam Poser said Wall Street had been expecting a currency-neutral decline of 2 percent.

Nike has been shedding 5 percent of worldwide staff to lower its costs in the global economic downturn but weak demand and currency fluctuations have hurt results.

The company said net income in its fiscal fourth quarter ended May 31 fell to $341.4 million, or 70 cents per share, from $490.5 million, or 98 cents per share, a year earlier.