Net income rose 18% to $1,008 million from $846 million on a sales increase of 5% to $8,677 million from $8,244 million for the final quarter ended May 31 as recent belt-tightening measures on the overhead and a reduction in demand creation expense during an off year more than offset a 180 b.p. decline in gross margin to 44.1% for the period. For the FY, the Eager Beavertons saw their net income grow 13% to $4,240 million from $3,760 million on 6% better sales to $34,350 million from $32,376 million in what was a very impressive performance given the challenges ... Log in to view full article.