The Australian skate and extreme sports company reported a 15% decline in net income to A$9,797,000 ($6.3 mm) from A$11,469,000 in the fiscal year ended June 30, as revenues slipped 7% to A$206,295,000 ($132.2 mm), down from A$222,317,000. The lower revenue was attributed to eliminating less profitable brands, which contributed A$25.5 million in the prior year period. Despite challenging market conditions, global brands FXD, Salty Crew, and Globe footwear performed well.

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