After a strong start to the year, Shimano’s net income in the final quarter fell by nearly half to ¥17,886 million ($116.1 mm) from ¥34,986 million, as sales inched down 1% to ¥115,223 million ($747.7 mm) from ¥116,114 million. Gross margin improved by 30 basis points to 36.3%, while SG&A was reduced by 3% in yen and declined by 40 b.p. to 23.6% of revenues. Bicycle component sales slipped 3% to ¥88,729 million, while the fishing gear segment grew by 9% to ¥26,397 million in Q4.

For the full year, profits dropped ... Log in to view full article.