Net income dipped 8% to KRW 53,360 million ($39.3 mm) in the third quarter from KRW 57,743 million last year, as total revenues grew by 6% to KRW 1,049,458 million ($773.8 mm) from KRW 990,192 million, including the usual significant contribution from majority-owned Acushnet. Constant currency sales would have been 3% higher. Royalty income dropped 5% to KRW 17,569 million due to double-digit declines from Japanese and North American licensees. The bottom line included a KRW 18 billion one-time restructuring charge for severance costs in the U.S.

Fila U.S.A.’s top line declined ... Log in to view full article.