Comprehensive net income at the bike and fishing brand slipped 70% to ¥4,394 million ($40.0 mm) from ¥14,517 million in the second quarter on 5% higher revenues of ¥94,235 million ($857.5 mm) up from ¥89,495 million. Excluding foreign currency translation adjustments and other comprehensive items, net income was off 13% to ¥14,716 million from ¥16,925 million. Gross margin contracted 50 basis points to 38.9%, and SG&A was up 7%, or 30 b.p. as a percentage of sales. Shimano cut its full year revenue guidance to ¥362 billion from ¥365 billion and now expects net income of ¥49.3 billion for 2019 ... Log in to view full article.