Merida Industry, Taiwan’s second-largest bicycle manufacturer behind Giant, bounced back in the final quarter as its bottom line swung to a profit of TWD 1,200.2 million ($39.8 mm) against a loss of TWD 699.1 million, despite revenues declining 10% to TWD 26,757.2 million ($858.7 mm), down from TWD 29,633.1 million. Meridia benefited from a gain of TWD 92.1 million ($3.0 mm) on its equity-method investments, compared with last year’s loss of TWD 4,064.7 million. Gross margin narrowed 330 basis points to 14.8%, while operating ... Log in to view full article.