With North America surpassing the home Korea market in sales, Fila reported a 21% increase in net income to KRW 96,210 million ($81.1 mm) from KRW 79,736 million for the first quarter ended Mar. 31 as sales leaped 23% to KRW 834,576 million ($703.5 mm) from KRW 676,917 million. The figures include the results of 53%-owned Acushnet subsidiary. Excluding Acushnet, Fila operations had revenues of KRW 346,627 million ($292.1 mm), up 71% against KRW 203,178 million and operating profit was 17.6%, or an indicated KRW 61.0 million, compared to 10.7%, or an indicated KRW 21.7 million.
The booming U.S. business had ... Log in to view full article.