Net income attributable to shareholders improved by 10% in the fiscal first quarter ended June 30 to ¥5,135 million ($32.9 mm) from ¥4,670 million on 6% higher revenues of ¥60,783 million ($389.9 mm) up from ¥57,176 million. Gross margin expanded by 150 basis points to 41.5%, while operating expenses were 7% higher, increasing 10 b.p. to 30.8% of the top line. After the solid quarterly performance, Mizuno maintained its full-year guidance for revenues of ¥250,000 million and net income of ¥15,000 million.

Americas sales were 9% higher at ¥10.4 billion ($72.5 mm), ... Log in to view full article.