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Article Date: March 2019
Word Count: 264

Mizuno Net Drops on Lower Sales in FQ3

Comprehensive net income plunged 78% in the fiscal third quarter ended Dec. 31 to ¥250 million ($2.2 mm) from ¥1,139 million as revenues slipped 4% to ¥40,702 million ($360.8 mm) from ¥42,514 million. Excluding comprehensive items, net income was off 40% to ¥501 million from ¥840 million. Gross margin expanded 10 basis points to 41.0% in the quarter, and SG&A was down ¥288 million, but deleveraged 100 basis points as a percent of sales to 39.0%. The results led Mizuno to lower its guidance for the full year ending Mar. 31, 2019, and it now expects revenues of ¥181,000 million, ... Log in to view full article.


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