Net income posted a 10% improvement in the first quarter to SEK 293 million ($32.2 mm) from SEK 266 million as sales ticked down 3% (+4% CC) to SEK 2,573 million ($283.0 mm) from SEK 2,662 million. The bottom line benefited from an 8% cut in SG&A, which was down 130 b.p. to 28.4% of sales, while gross margin held flat at 44.8%. North American sales dipped 14% (flat CC) to SEK 479 million ($52.7 mm) as the region continues its sequential improvement but still faces headwinds from ... Log in to view full article.