Net loss narrowed to $68,518,000 in the second quarter ended June 29 from a loss of $118,268,000 last year on 5% higher revenues of $313,556,000 against $299,344,000, but FIT shares fell double digits in after hours trading as the fitness band maker cut full year guidance. Gross margin contracted 520 basis points to 34.5% on lower selling prices and the impact last year of lower warranty benefits. Despite cutting SG&A by $39 million, it still far exceeded gross profit. Revenue from fitness trackers was up 51% but sales of more expensive smartwatches declined 27% on weaker than expected sales of ... Log in to view full article.