Fila has Strong Q2, Bolstered by Acushnet, U.S. Rebound
Net income improved 74% to KRW81,139 million ($71.5 mm) from KRW46,760 million for the second quarter ended in Jun. as sales rose 14% to KRW790,170 million ($696.7 mm) from KRW692,867 million. Acushnet, in which Fila owns a 53% stake, earlier reported net income of $39.9 million for this quarter against $33.0 million prior on sales of $478.1 million against $428.0 million, suggesting that Fila stand alone net income was $31.6 million on sales of $218.5 million. Gross profit expanded 40 b.p. to 51.2% in the period while operating margin gained 290 b.p. ... Log in to view full article.