Net income declined 41% to $2,873,000 from $4,907,000 for the period ended Dec. 31. Final period sales rose 14% to $74,104,000 from $65,259,000, including a 34% increase in sales of powered vehicle products and 2% gain in sales of mountain bike products. Gross margins in Q4 improved 90 b.p. to 29.5%. For the full year, net income was 15% higher at $27,686,000 compared to $24,102,000 as annual revenues rose 12% to $306,734,000 from $272,746,000. FY14 gross margins increased 140 b.p. to 30.7%.
FOXF, in confirming its business has been impacted by the backlogs at West Coast ... Log in to view full article.