Earnings

For the fiscal year, net sales were USD 3,744 million versus USD 3,713 million, net income attributable was USD 213 million versus USD 331 million, diluted EPS was USD 4.02 versus USD 6.02, and adjusted EPS was USD 6.42 versus USD 7.25.

Net income attributable was USD 196 million, or USD 1.29 per diluted share, versus USD 46 million, or USD 0.31, and a loss of USD 274 million, or USD 1.81, in the second quarter. AdjustedNet Incomewas USD 31 million, or USD 0.21 per share, …

Adjusted EBIT was USD 367 million versus USD 470 million sequentially and USD 326 million a year earlier, and operating EBITDA was USD 548 million versus USD 649 million and USD 517 million, at margins of 8%, 14% and 21% for operating profit, adjusted …

Cost of product revenue rose 12% to USD 27.4 million on higher revenue, tariffs and freight, andGross Profiton product revenue was USD 30.3 million versus USD 28.1 million. Gross margin on product sales was 52% versus 53%, with the decrease driven mainly by currency …

Non-GAAP earnings per diluted share were USD 2.49, USD 0.01 above the midpoint of projections, and adjusted free cash flow was USD 258 million, USD 8 million above the midpoint. Non-GAAP operating income was USD 251 million, aMarginof 37.4%.

Selling and administrative expenses rose 5% to USD 290 million, which fell to 15.2% of net sales from 19.4%.Advertisingcosts rose 14% to USD 190 million, or 10.0% of sales, andResearch and Developmentcosts were USD 29 million. Interest expense more than doubled to USD 52 …

Adjusted after-tax operating income was USD 545 million versus USD 520 million, and operating earnings per share were USD 1.22 versus USD 0.96, helped by a lower share count of 447 million diluted shares versus 541 million. AdjustedReturn on Equitywas 12.1% versus 10.3%.