The bottom line dived 89% to $1,622,000 from $14,801,000 in the fiscal third quarter ended June 28, on revenues that were down 8% to $172,472,000 from $187,047,000, driven by low demand for outdoor recreation products. Gross margin declined 560 basis points to 35.8%, due to promotional activity, unfavorable overhead absorption and changes in product mix. Operating income for the fishing unit declined 72% to $5.3 million as sales dipped 5% to $130.5 million. Camping ... Log in to view full article.
