In its first quarterly report since CEO Glenn Chamandy returned from exile after a long proxy battle, GIL’s second quarter profits were pulled down by $57 million of legal and severance expenses related to the protracted fight. Net income was off 62% to $58.4 million from $155.3 million in Q2 ’23, which also included a $74.2 million insurance benefit, as revenues increased 3% to $862.2 million from $840.4 million. Gross margin improved 460 basis points to 30.4%, boosted by lower raw material and manufacturing input costs. SG&A was 14.3% of revenue, ... Log in to view full article.