Sales and profit gains from Acushnet and a reduced loss from Fila resulted in net income growing 170% in the second quarter to KRW 100,434 million ($73.2 mm) from KRW 37,197 million, as consolidated revenue increased 3% to KRW 1,175,289 million ($856.9 mm) from KRW 1,147,006 million. Constant currency sales would have been down 1%. Royalty income declined 13% to KRW 17,452 million with all regions lower impacted by slower consumer demand and higher inflation.

Fila U.S.A.’s revenues fell 17% (-20% CC) to KRW 76,323 million ($55.6 mm) in a very competitive ... Log in to view full article.