A $262.1 million non-cash goodwill impairment charge sullied an otherwise decent first quarter, resulting in a net loss of $259,694,000 against a loss of $3,496,000 last year, on 6% higher revenues of $355,030,000 up from $333,472,000. Gross margin was flat at 30.9%, while operating expenses less the impairment were up 4%, leveraging 40 b.p. to 27.6% of the top line. FOXF said the goodwill writedown was required after an assessment that was triggered by increasing U.S. tariff policies and a decline in the company’s stock price.

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