FIT shares jumped 10% in after hours trading as the company’s net loss narrowed to just $2,056,000 in the third quarter from a loss of $113,403,000 last year on slightly higher sales at $393,575,000 vs. $392,522,000. The bottom line included a $6 million impairment charge this year to write down a minority equity investment. A larger proportion of smartwatch sales raised ASP 3% to $108 on 3.5 million devices sold, but depressed gross margin 550 basis points to 39.0%. Operating expenses were down $31 million, an 800 b.p. improvement to 43.5% of sales. Inventory was up 41% to $195.1 million, ... Log in to view full article.