Net income rebounded in the fiscal second quarter ended Sep. 30 to ¥4,996 million ($33.9 mm) from ¥2,962 million as sales increased 7% to a record ¥62,980 million ($427.0 mm), up from ¥58,830 million.

Net income tripled to BRL 171.3 million ($32.5 mm) from BRL 57.3 million in the third quarter as sales grew 8% to BRL 1,115.8 million ($212.0 mm) from BRL 1,037.6 million.

The industrial yarn and footwear component supplier said sales were down 1% for the three months ended Oct. 31, with apparel off 2% and footwear 4% lower, partially offset by performance materials, which were up 4%.

Open Water Brands is the new name of a limited liability company, formed by a group of investors led by Adrian Holler and Jack Baron, which combines several saltwater fishing brands.