Net income slipped by 8% in the first half to $55,227,000 from $60,227,000, hurt by $15 million in receivables impairment losses that more than offset substantially improved margins, as revenues fell by 13% to $716,086,000 from $827,193,000. Most of the top line decline was due to lower orders from the over-inventoried North American market, where revenues dropped 27% to $314.6 million. Europe inched down 1% to $195.2 million, and Asia (outside of China) dipped 3% to $66.0 million. But the PRC was a bright spot for Stella, growing 6% to $112.8 ... Log in to view full article.