Net income slipped 27% to $8,444,000 from $11,610,000 in the final quarter hurt by lower product margins, on sales that were up 2% to $127,771,000 from $125,764,000. Included in the results was a $5.5 million net-of-taxes non-cash asset impairment charge for the Octane Fitness trade name offset by a $5.6 million benefit from a deferred tax asset reassessment due to the new tax law. Direct segment revenues increased 10% to $71.6 million as Bowflex MaxTrainer and HVT sales got rolling, more than offsetting declines from the aging TreadClimber. But lower margins on the HVT and treadmills combined with ForEx headwinds ... Log in to view full article.