Signature Eyewear's revenues declined by 13.3 percent to $5.2 million for the first quarter ended Jan. 31, with a 28.1 percent drop in net income to $143,000. The fall in sales was blamed on the overall slow economy and market for optical frames. The gross margin fell by 1.8 percentage points to 62.8 percent. This drop, plus the decrease in revenues, caused the lower net income.