Daiwa fishing and golf owner Globeride reported net income of ¥123 million ($1.2 mm) in its final fiscal quarter ended Mar. 31, against a loss of ¥835 million last year, on a 14% improvement in revenues to ¥24,888 million ($235.0 mm) from ¥21,922 million. Gross margin was 35.4%, off 70 basis points, while SG&A was up 15% and deleveraged 60 b.p. despite the better top line. For the full year, sales were also up 14%, hitting ¥100,304 million ($947.2 mm) against ¥88,258 million, and driving net income that quadrupled to ¥4,797 million ($45.3 mm) from ¥1,123 million. Americas sales grew ... Log in to view full article.