Net income declined by 6% to $41,798,000 from $44,422,000 in the fiscal second quarter ended Sep. 30 on the eve of a shareholder vote scheduled for Nov. 25 that will determine if the company’s Kinetic Group can be acquired by Czechoslovak Group. Total revenues inched down 2% to $665,915,000 from $676,808,000, while operating expenses increased 9%, primarily due to increased incentive compensation and restructuring costs for the GEAR Up initiative, which has delivered $11.6 million in cost savings for the fiscal year so far.

Revenues from the Kinetic Group ammunition business improved ... Log in to view full article.