Net income dropped 42% to $12,869,000 in the fiscal third quarter ended June 26 from $22,066,000 on 21% lower revenues of $138,390,000 down from $176,253,000. Strong Fishing, Watercraft Recreation and Camping sales in May and June were more that offset by closed retail stores in April. Gross margin was flat at 45.2%, while SG&A deleveraged 650 basis points on the lower sales. Fishing sales declined 20% to $102.7 million with an ... Log in to view full article.