After years of malaise, Shimano’s bike component sales drove 13% revenue growth in the third quarter to ¥128,189 million ($805.2 mm) from ¥113,611 million, but net income inched down 1% to ¥12,072 million ($75.8 mm) from ¥12,144 million. The bottom line was hit by several ¥ billion in foreign exchange losses and additional extraordinary write-offs from ongoing factory reconstruction projects. Gross margin expanded 240 basis points to 36.0%, while SG&A dipped 3% in yen, and leveraged 370 b.p. on the rising top line.

Bicycle segment sales rose 14% to ¥96,982 million, supported ... Log in to view full article.