The bottom line declined 51% in Q2 to $14,082,000 from $28,774,000, hurt by rising costs, as revenues slipped 5% to $203,819,000 from $213,568,000. Gross margin cratered 960 basis points to 36.1% on soaring materials costs driven by supply chain dynamics. SG&A was reduced by 16% in dollars, and by 340 b.p. as a percent of sales, helped by lower variable costs on lower sales, as well as reduced compensation expense. Inventory was up 92% from last year to $251.0 million, with elevated levels of both raw materials and component inventory built ... Log in to view full article.