The Australian skate and extreme sports company reported a 12% gain in net income to A$11,002,000 ($7.4 mm) over A$9,797,000 in the fiscal year ended June 30, as revenues came in flat at A$206,351,000 ($138.5 mm) compared to A$206,295,000. The focus on core brands and margin accretion is bearing fruit, with the top line improving from last year’s 7% decline as the new strategy got underway. EBIT was up 13% to A$16.6 million with a 90 b.p. margin improvement to 8.0%.

By geography, North American sales declined 5% to A$77.5 million ($52.0 ... Log in to view full article.