Calida Holding of Switzerland has ended up with 59.92 percent of the shares in the Lafuma Group, up from 53.07 percent as of last Dec. 31, after a series of refinancing measures that have cut down its debt drastically and boosted equity to $56.88 million. A positive operating cash flow allowed Lafuma to sport a net cash position of $12.3 million as of Dec. 31, compared with net debt of $23.1 million on Sept. 30. For the bumper three-month financial year ended Dec. 31, Lafuma reports a net loss of €7.1 million, down from €9.1 million in the year-earlier period, on stable revenues of €41.4 million. Operating losses were reduced by 36.6 percent to €4.2 million. The Surf segment, represented by Oxbow, posted a big increase in the latest quarter, but the company cautions that it expects to post a decline in 2014. The other segments should grow. The management expects to see a gradual reduction in the company's operating losses.