After growing double digits in the first half, Shimano’s bike component sales fell in Q3, contributing to a 4% decline in revenues to ¥113,611 million ($770.5 mm) from ¥117,992 million. Bicycle component segment revenues declined by 7% in Q3 to ¥84,819 million, but the fishing segment did better, accelerating to ¥28,684 million, an 8% growth rate. Gross margin contracted 590 basis points to 33.6%. SG&A was 11% higher in yen, accounting for 26.2% of the top line against 22.8% a year ago. Profits attributable to shareholders were ¥12,144 million ($82.4 mm) ... Log in to view full article.