Citing the warm winter and heightened caution by retailers, Under Dog scaled back its revenue projections for 2012 to the lower end of its long-term 20-25% growth target while maintaining its operating income outlook at the higher end of that same range. However, Dog was able to slightly beat Street expectations for Q4 as it reported net income of $32,552,000, up 42% from $22,948,000 for the final period ended Dec. 31. Revenues for the period rose 34% to $403,126,000 from $301,166,000. For Q4, gross margins were down 10 b.p. to 51.6% as more favorable return rates were unable to offset ... Log in to view full article.