Net income attributable to shareholders at the Taiwanese footwear and sporting goods manufacturer fell 44% in the final quarter of 2022 to TWD 839.1 million ($26.9 mm) from TWD 1,508.5 million, on 22% higher revenues of TWD 22,863.4 million ($732.8 mm) up from TWD 18,724.7 million. Gross margin narrowed 130 basis points to 23.6%. Selling and administrative expenses increased 12%, while research and development was 9% lower year-over-year. Total SGA& increased 7%, but declined 170 b.p. as a percent of the growing ... Log in to view full article.