Net income was 4% lower at $38,488,000 against $39,907,000 in the seasonally important second quarter as international weakness and the strong dollar weighed on the top line, which declined 3% to $462,218,000 from $478,138,000 and was off just 1% constant currency. U.S. sales improved despite variable weather impacting rounds played. Gross margin expanded 80 basis points to 53.2% from higher ASPs, and SG&A was down $1.5 million in dollars, deleveraging 90 b.p. on the lower sales. GOLF maintained its full-year guidance for sales of $1,655 to 1,685 million and adjusted EBITDA of $235 to 245 million, but the Q2 sales ... Log in to view full article.