A 780 basis point drop in gross margin to 50.4% in GRMN’s Fitness segment resulted in operating income that fell by nearly half to $18,126,000 from $33,374,000 in the first quarter, despite 9% higher revenues of $180,256,000 up from $166,035,000. The contraction was blamed on lower selling prices and product mix. The Tacx indoor cycling acquisition closed in the quarter and several new running-focused wearables were released, incorporating more smartwatch features. The highly ... Log in to view full article.