The bike maker’s comprehensive net income declined 35% to NT$746.8 million ($23.9 mm) from NT$1,151.1 million in the second quarter on 13% higher revenues of NT$15,196.1 million ($486.3 mm) vs. NT$13,475.2 million on strength in private label sales and electric bikes. Excluding a huge swing in foreign exchange, the bottom line was up 26% to NT$874.1 million. Gross margin narrowed by 50 basis points to 20.3%, and an increase in the income tax rate to 20% also weighed on the bottom line. Electric bicycle sales are up over 40% worldwide year to date, and have received increasing attention in the ... Log in to view full article.