First quarter net income increased 18% to ¥31,647 million ($207.4 mm) from ¥26,737 million, with a 20% jump in revenues to ¥208,313 million from ¥174,102 million, across every category and geography. The strong results led to Asics maintaining the full-year guidance issued previously for revenues up 17% to ¥780 billion and net income growing 22% to ¥78 billion. Gross margin in the quarter expanded by 140 basis points to 55.8% as higher prices offset ForEx headwinds. Operating expenses were up 18%, but still leveraged 60 b.p. to 34.5% of the top ... Log in to view full article.