Red ink totaled KRW 60,139 million ($46.0 mm) in the final quarter against a profit of KRW 136,164 million prior, on 15% lower revenues of KRW 760,830 million ($582.6 mm) from KRW 896,740 million that would have been down 12% constant currency.

Company chairman Li Ning had nothing to say about rumors he planned on taking the company he founded private, but pledged to improve profitability after reporting a 22% drop in net income attributable to shareholders of RMB 3,186,910,000 ($449.9 mm) last year, down from RMB 4,063,834,000.

Net income in the fourth quarter declined 10% to BRL 127,181,000 ($25.7 mm) from BRL 140,666,000 on revenue that was up 7% to BRL 2,130,141,000 ($430.1 million) from BRL 1,983,093,000.

Lead activist investor Browning West weighed in Wednesday after the company confirmed potential sale rumors that first appeared in Canada’s Globe & Mail, charging the “lame duck” board with initiating the process to dodge accountability in the ongoing proxy battle.

MODG responded with a statement that it was unaware of any discussions about selling the business, following a report in South Korean newspaper the Chosun Daily that a South Korean entity is in the running to acquire the company.

SPWH appointed two its executive leadership team, naming Michael Simpson as chief information officer and Krischelle Tennessen as chief human resources officer.

AOUT has settled two separate patent infringement suits with Vista Outdoor and Bushnell Holdings, according to a press release from the company.