Net income was off 37% in the final quarter to $11,418,000 from $18,247,000 at the Titleist and FootJoy parent, on revenues that slipped 2% to $343,355,000 from $351,392,000 and were broadly lower across regions and categories. Gross margin was off 10 basis points to 50.9%, but SG&A spending expanded by $2.8 million, or 170 b.p., and R&D costs were up $1.3 million, or 40 b.p. as a percent of sales. U.S. rounds played plunged in the quarter, declining 10.3% in Oct., 18.8% in Nov. and 7.7% in Dec. according to Golf Datatech. For the full year, Acushnet’s net income inched ... Log in to view full article.