Net income in the final quarter declined 3% to an implied TWD 474,505,000 ($17.1 mm) from TWD 488,876,000 prior, on revenues that inched up to TWD 9,740,936,000 ($350.6 mm) from TWD 9,726,202,000. Gross margin contracted by 220 basis points to 44.6%, while operating expenses were down 4%, leveraging 150 b.p. as a percent of sales. Selling expenses dropped 31% and research and development was down 14%, but administrative expenses jumped 141% in Q4. The Taiwan-based parent of Johnson Fitness & Wellness owns the Matrix, Horizon and Vision brands of exercise equipment, as well ... Log in to view full article.