Net income slipped 38% to $7,093,000 from $11,444,000 on revenues that were 6% lower at $113,252,000 vs. $120,928,000. The loss included a $1.2 million charge to settle an old lawsuit with Biosig Instruments. Gross margin was 40 basis points lower at 54.5% due to a shift to more, lower-margin retail sales. Operating expenses increased by $2 million, or 440 b.p. as a share of sales, on planned higher spending on sales, marketing and product development. That additional spending comes as NLS is preparing to launch the Bowflex Hybrid Velocity Trainer which it hopes will reignite stagnant DTC sales. Along with ... Log in to view full article.