The bike maker’s net income was just €2.8 million ($3.1 mm) in 2019, down from €20.3 million, but without the divested North American business, net income from continuing operations was up 52% to €59.3 million ($66.4 mm) from €39.0 million as revenues improved 8% to €1,111.0 million ($1,244.1 mm) from €1,033.3 million. The N.A. operations were sold in Aug., with the Diamondback, Redline and IZIP brands going to Alta Cycling Group, but the Canadian rights to those brands and Raleigh were carved out for Canadian Tire. Total loss on the deal, including sale proceeds, writedowns and related expenses, was €56.5 ... Log in to view full article.