Net income for the fiscal year ended June 30 was nearly halved to A$18,641,000 ($13.3 mm) from A$33,271,000 as revenues grew 3% to A$274,463,000 ($196.5 mm) from A$266,529,000. The multi-brand skate and surf company said that apparel and footwear led the sales gains, though hardgoods did not fare as well. Gross margin contracted 810 basis points to 35.0%, largely from higher shipping and other supply chain costs, and rising inflation. Sales in North America gained 13% to A$113.8 million, driven ... Log in to view full article.