Net loss expanded slightly to $54,452,000 in the third quarter ended Oct. 3 from a loss of $51,893,000 last year, on 5% higher revenues of $363,932,000 up from $347,200,000. DTC e-commerce grew 54% year-over-year to $42 million. Gross margin improved 620 basis points to 37.3%, helped by lower promotions, lower warranty expense, increased share of direct sales through, and growth of premium revenue. But a 38% increase in R&D and a 54% jump in general and administrative spending weighed on profitability. FIT blamed the higher G&A on expenses related to the pending acquisition by Google.
The company sold 3.3 million devices ... Log in to view full article.