Net income increased 13% in the second quarter to KRW 91,972 million ($78.9 mm) from KRW 81,139 million on 21% higher sales of KRW 959,303 million ($822.4 mm) up from KRW 790,170 million. The Fila brand is generating heat worldwide right now, with all geographies producing double-digit improvements in sales and license fees. Excluding revenues from majority-owned Acushnet, the top line gains were even more impressive, jumping 53% to KRW 420,519 million and generating operating income of an implied KRW 76,114 million, up 67%. Overall gross margin expanded 100 basis points to 51.1%.

The U.S. market continued to outperform for Fila, ... Log in to view full article.