Net income dipped 5% to ¥2,962 million ($19.9 mm) in the fiscal second quarter ended Sep. 30 from ¥3,112 million a year ago, but revenues ticked up 3% to ¥58,830 million ($394.6 mm) from ¥57,330 million. Gross margin increased 180 basis points to 41.1%, and operating expenses were up 5% in yen, deleveraging 80 b.p. to 33.2% of sales. Mizuno maintained its full-year guidance, calling for revenues of ¥250,000 million and net income of ¥15,000 million.

Americas region sales increased by 10% to ¥9.2 billion ($62 mm), helped by the appreciation of ... Log in to view full article.