Implied net income fell by a third in the second quarter to ¥20,017 million ($128.4 mm) from ¥30,175 million in 15% lower sales of ¥116,330 million ($746.2 mm) down from ¥137,179 million despite a return to growth in North America and big gains in China. The Japanese bike component and fishing gear maker said that the stagnant global bike market is showing signs of improvement, and bumped its sales and profit guidance higher. Gross margin in the quarter improved by 130 basis points to 38.6%, while SG&A was 8% higher in ... Log in to view full article.