First-quarter profit slipped at Asics Corp., the Japanese sportswear firm reported Monday.
It also forecast a mid-single-digit decline in full-year profit.
For the period ended June 30, the company earned a net income of 4.9 billion yen, or $62.2 million at current exchange, a 4.6 percent decrease from 5.2 billion, or $66.1 million, the same period a year ago.
Total revenue gained 1.1 percent to 66.1 billion yen, Asics said. International sales increased 2 percent on the back of strong sales of running shoes in the Americas, Europe and other regions.
For the full year, Asics is forecasting a 4.9 percent decline in net income, to 12 billion yen, or $152.5 million, despite a projected revenue increase of 4.5 percent to 259 billion yen, or $3.3 billion.
The firm said in a statement it is observing “concerns about the risk of downturn mainly due to the sovereign debt problem in Europe.”