Net income jumped nearly six-fold to ¥1,812 million ($17.3 mm) in the fiscal third quarter ended Dec. 31, up from ¥308 million the year before, on 9% higher revenues of ¥40,492 million ($387.6 mm) against ¥37,242 million. The results mark a solid rebound from declines in the first and second fiscal quarters, especially in the U.S. and Japan. Gross margin was up 50 basis points to 41.6%, while operating expenses dropped 4% in yen and were down 480 b.p. as a percent of sales. Mizuno maintained its guidance for full-year revenues of ¥150,000 million and net income of ¥1,500 million.
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