August 26, 2022
Net income for the fiscal year ended June 30 was nearly halved to A$18,641,000 ($13.3 mm) from A$33,271,000 as revenues grew 3% to A$274,463,000 ($196.5 mm) from A$266,529,000.
The Taiwan-based exercise equipment maker’s bottom line swung to a TWD 410.3 million ($13.9 mm) loss in the second quarter from a TWD 3.4 million profit last year, on flat revenues of TWD 6,567.1 million ($221.9 mm) up from TWD 6,551.8 million.
The footwear maker’s profit grew sevenfold in the first half to $489,000 from $68,000 last year, as sales increased 61% to $5,261,000 from $3,479,000, with much of the top line now coming from leasing unused factory space.
Store staff at the outdoor co-op’s Berkeley, CA, location voted to join the United Food and Commercial Workers Local 5 by a 56 to 38 vote, becoming the second REI store to unionize after its SoHo store made the election in Mar.