Revenues at the Japanese bicycle component and fishing gear supplier increased 13% to ¥113,539 million ($744.1 mm) from ¥100,557 million a year ago, driven by 16% higher bike segment sales and +5% from fishing. Net income was down 59% to ¥9,786 million ($64.1 mm) from ¥23,687 million, hit by a nearly ¥15 billion negative swing in foreign exchange due to the appreciation of Asian currencies against the dollar in Q1. Gross margin expanded 90 basis points to 39.7% while operating expenses were 13% higher, flat as a percentage of the top ... Log in to view full article.