Net income was $1,775,000 for the first quarter against a loss of $952,000 last year, as revenues inched up 1% to $57,304,000 from $56,931,000 on higher demand for basketball, table tennis, archery and outdoor games. Direct-to-consumer sales increased 28%. Profitability was helped by 560 basis points of gross margin expansion to 25.0% due to product mix, lower inventory storage and handling costs, and better fixed cost ... Log in to view full article.
