Net income soared 145% to $62,855,000 from $25,689,000 in the important first quarter on a 31% top line gain to $403,191,000 from $308,927,000 with all product categories and regions positive. Woods sales increased 20%, irons 61%, putters 24%, balls 14% and gear, accessories and other was up 35%. Gross margin expanded 190 basis points to 49.7%, boosted by higher ASPs, the addition of the higher-margin TravisMathew business, and a net favorable impact from exchange rates. SG&A increased $11 million, largely due to TravisMathew, but declined 510 b.p. as a percent of sales. Foreign exchange benefit from the weakening dollar was ... Log in to view full article.