In the seasonally smallest quarter where COLM usually reports red ink, a $78 million tariff refund helped boost the bottom line to a profit of $26,553,000 against a $10,196,000 loss, as revenues increased 2% to $614,362,000 from $605,246,000. About $60 million reduced cost of sales in the quarter; $15 million was recognized as a reduction to inventory that will apply to future COGS as it sells through, and the balance was interest income. Gross margin soared to 58.3% from 49.1%, though without the refund it would have contracted 50 basis points ... Log in to view full article.