Net income plunged 99% to $36,000 from $3,787,000 in the first quarter on 13% lower sales of $53,555,000 down from $61,218,000 pulled down by a falloff in Black Diamond at the end of the quarter as retailers closed stores and cancelled orders. Direct-to-consumer sales were up 16% and sales through customers’ e-commerce sites also performed well, however. Gross margin was off 150 basis points to 34.6% from inefficiencies and logistics problems caused by the pandemic, along with 55 b.p. of foreign exchange headwinds and 35 b.p. from tariffs. SG&A was down 1% in dollars but deleveraged 370 b.p. on the ... Log in to view full article.