Net income attributable to shareholders at the Taiwanese footwear and sporting goods manufacturer was down 69% in the fourth quarter to TWD 263.4 million ($8.2 mm) from TWD 839.1 million as revenue slipped 1% to TWD 22,535.2 million ($698.6 mm) from TWD 22,863.4 million. Gross margin contracted 30 b.p. to 23.3% from 23.6%. Selling and administrative expense ticked up 3% while research and development grew 31%, putting total OpEx up 9% and deleveraging 130 b.p. to 13.1% of sales.

For the full year, profits declined 53% to TWD 4,953.2 million ($153.5 mm) ... Log in to view full article.