Mips’ Q4 Drops On Weak Bike Helmet Sales
The Swedish helmet technology company’s net income plummeted 76% in the fourth quarter to SEK 19 million ($1.9 mm) from SEK 80 million as revenues fell 46% to SEK 107 million ($10.6 mm) from SEK 198 million, and were down 53% constant currency. A drastic slowdown in the bike sector during the second half of the year was blamed for the poor results in the quarter. Sales were down across ... Log in to view full article.
