Net income in the final quarter declined 6% to $2,700,000 from $2,864,000 on 2% lower sales of $63,942,000 against $65,506,000 as improved archery, table tennis, and fitness categories were not enough to offset soft demand across other categories. Gross margin improved 61 basis points to 24.9%, benefitting from lower manufacturing and logistics costs compared to the prior year. SG&A was up 5% and increased 120 b.p. as a percent of sales, and interest expense declined 71%, as ESCA reduced its long-term debt by more than half since the start of the ... Log in to view full article.