Leatt Reports Loss on Shrinking Sales
The bottom line at the South African protective equipment maker swung to an $816,679 loss from income of $1,023,221 for the first quarter as revenue declined 19% to $10,614,470 from $13,079,343. Gross margin contracted 630 b.p. to 37.8%, particularly hit by U.S. promotions in the dealer direct channel to clear slow-moving inventory. Total operating expense was up ... Log in to view full article.
