Net income attributable to shareholders slipped 73% to $5.1 million in the first quarter from $19.0 million last year, hit by one-time costs following AS’ Feb. 1 IPO, as revenues increased 13% to $1,182.9 million from $1,050.3 million on soaring Arc’teryx sales and DTC strength in Asia. The quarter included about $24 million in expenses related to the offering, of which $18 million were foreign exchange losses on debt that was extinguished. IPO proceeds were used to pay down $1.4 billion of debt, leaving $1.7 billion of net debt at quarter ... Log in to view full article.