The bottom line dropped 11% in Q3 to ¥16,025 million ($151.0 mm) from ¥18,033 million despite a 19% gain in revenues to ¥103,919 million ($979.4 mm) up from ¥87,574 million powered by growth in both bicycles and fishing. Gross margin was up 200 basis points to 41.3%, while SG&A was 4% lower in yen, and leveraged 400 b.p. on the higher revenues. The better than expected results led Shimano to increase its full-year revenue guidance to ¥370,000 million from ¥350,000 million, topping last year’s ¥363,230 million. Net income is new seen at ¥64,300 million up from ¥58,300 million, and well ... Log in to view full article.