Fila Korea reports a 22 percent drop in total revenues to 168.2 billion won (€132.4m-$146.8m) for the first quarter ended March 31. Royalty income from its licensees in Asia and Europe was more or less flat, but sales fell by 17 percent in Korea to KRW 65.5 billion (€51.6m-$57.2m), and those of the U.S. subsidiary dropped by 25 percent to $71.4 million. Nevertheless, the company posted consolidated net income of KRW 7,340 million (€5.8m-$6.4m) for the quarter, compared with a loss of KRW 30,609 million in the year-ago period. Fila indicated that it's making progress with the relaunch of the brand in South Korea, with 75 percent of the collection focusing on performance, while closing underperforming stores and revamping the marketing program.