Net income dipped 4% in the fourth quarter to $4,871,000 from $5,087,000, on 2% lower revenues of $73,444,000 against $74,767,000, with strong archery and pickleball momentum offset by lower indoor game sales hampered by supply chain delays. While last year’s Q4 provided a difficult comp, revenues were up 56% from Q4 ‘19, and net income nearly doubled. Gross margin narrowed 170 basis points to 22.2%, squeezed by higher freight, raw material, and inventory carrying costs. SG&A was reduced by 10%, leveraging 120 b.p. despite the lower top line.

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