Net loss was $120,835,000 in the fourth quarter, including $47,990,000 of costs related to the company’s pending acquisition by Google, compared to a profit of $15,372,000 the previous year. Revenues declined 12% to $502,142,000 from $571,199,000 with units up 8% and ASP down 19% to just $81, a surprising shift given the increasing share of total sales represented by smartwatches. Gross margin plunged to 24.3% from 38.0% last year, attributed to the mix shift, higher promotions, tariffs, and lapping a benefit from the release of warranty accruals last year. U.S. sales were off 16% to $276 million, while international fell ... Log in to view full article.