PORTLAND, Ore. (AP) -- Oregon Health & Science University President Joe Robertson says the university faces unsettling financial prospects despite a recent $100 million gift from Nike co-founder Phil Knight.

The stock market downturn reduced OHSU's earnings in the quarter ended Sept. 30 and an extended recession would do further damage as people put off elective medical procedures and other medical care because they've lost health insurance or face rising copays.

He said Tuesday that strained budgets also could limit public and private research funding and increase charity care expenses.

But Robertson said OHSU has large cash reserves to ride out the storm.

"As tough as things are going to be, OHSU is going to be a relatively good place to be," Robertson said.