PowerSports Business

July 10, 2017

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14 • July 10, 2017 • Powersports Business FINANCIAL www.PowersportsBusiness.com the three-month period ended April 30, 2017, compared with $131.8 million for the cor- responding period ended April 30, 2016. The increase was mainly attributable to a higher volume of SSV PAC sold following the intro- duction of the Can-Am Maverick X3 and to a higher volume of snowmobile PAC sold. Operating expenses decreased by $20.9 million, or 11.1 percent, to $166.7 million for the three- month period ended April 30, 2017, compared with $187.6 million for the three-month period ended April 30, 2016. This decrease was mainly attributable to the specific expense recorded last year following the unfavorable litigation deci- sion described below and a favorable foreign exchange rate variation of $5 million. The company is involved in multiple law- suits with one of its competitors whereby each party is claiming damages for the alleged infringement of some of its patents. On June 1, 2016, a verdict was rendered in one of those lawsuits against the company for an amount of U.S. $15.5 million ($19.5 million) in compen- satory damages, which was recorded during the three-month period ended April 30, 2016. On June 13, 2016, the trial judge formal- ized the verdict rendered on June 1, 2016, and awarded additional damages in favor of the plaintiff. Subsequently, the trial judge also established a royalty payable upon the sale of any future contravening vehicles. As a result, for the three-month period ended April 30, 2017, the company recorded an expense of $4.8 million. Management believes that the ver- dict and subsequent decisions are unfounded and unsupported by either law or evidence and filed an appeal on August 23, 2016. PSB POWERSPORTS BUSINESS STOCKS Stock Price Price Percent 52-Week Company Ticker 6/19/17 5/22/17 Change High Low ARI Network Services, Inc. ARIS $6.49 $4.89 32.7% $6.55 $3.95 Assurant, Inc. AIZ $104.43 $99.59 4.9% $106.02 $78.50 Brunswick Corp. BC $60.52 $54.78 10.5% $62.50 $41.19 CDK Global CDK $62.07 $61.48 1.0% $67.49 $52.43 General Electric Co. GE $28.95 $28.18 2.7% $33.00 $27.10 Harley-Davidson, Inc. HOG $55.32 $52.95 4.5% $63.40 $41.63 Honda Motor Corp. ADR HMC $27.70 $27.74 -0.1% $32.17 $24.03 Polaris Industries, Inc. PII $86.87 $87.05 -0.2% $99.00 $70.14 TCF Financial Corporation TCB $15.95 $15.60 2.2% $20.03 $11.72 Stock Price Price Percent 52-Week Company Ticker 6/19/17 5/22/17 Change High Low ArvinMeritor ARM $16.11 $16.08 0.2% $18.29 $6.30 Bridgestone Corp. ADR BRDCY $21.40 $21.39 0.0% $22.31 $15.56 Carlisle Companies CSL $96.35 $100.41 -4.0% $116.40 $94.60 Cooper Tire & Rubber CTB $35.65 $36.00 -1.0% $44.50 $29.29 Dover Corporation DOV $83.18 $83.15 0.0% $84.40 $63.93 Intl. Speedway Corp. Cl. A ISCA $36.10 $35.20 2.6% $40.31 $30.05 Deere & Company DE $127.72 $121.71 4.9% $128.37 $76.73 Marine Max, Inc. HZO $18.15 $18.25 -0.5% $23.65 $15.10 Spy Inc. XSPY $0.13 $0.10 30.0% $0.30 $0.02 Speedway Motorsports, Inc. TRK $18.81 $17.37 8.3% $22.28 $16.62 Universal Technical Institute UTI $3.70 $3.60 2.8% $5.38 $1.426 POWERSPORTS BUSINESS INDEX COMPONENTS INTERNATIONAL STOCKS OF INTEREST Source: Wells Fargo Securities LLC Stock Price Price Percent 52-Week Company Ticker 6/19/17 5/22/17 Change High Low BMW AG BMW-ETR 84.28 € 85.90 € -1.9% 91.76 € 63.38 € BRP, Inc. DOO-TSE $38.85 $32.34 20.1% $39.86 $19.35 Kawasaki Heavy Industries 7012-TKS 319 ¥ 331 ¥ -3.6% 411 ¥ 257 ¥ Michelin ML-PAR 120.80 € 117.60 € 2.7% 123.10 € 79.80 € NGK Sparkplug 5334-TKS 2269 ¥ 2308 ¥ -1.7% 2835 ¥ 1391 ¥ Suzuki Motor 7269-TKS 5196 ¥ 5185 ¥ 0.2% 5560 ¥ 2582 ¥ Yamaha Motor 7272-TKS 2872 ¥ 2893 ¥ -0.7% 3020 ¥ 1409 ¥ Yokohama Rubber 5101-TKS 2175 ¥ 2223 ¥ -2.2% 2366 ¥ 1170 ¥ DOMESTIC STOCKS OF INTEREST FOREIGN CURRENCY EXCHANGE 6/19/17 1 Month Ago 6 Months Ago Year Ago Annual Price Price %Change Price %Change Price %Change High Low Australian Dollar 1.31 1.34 2.2% 1.38 4.9% 1.35 3.0% 1.29 1.39 British Pound 0.78 0.77 -1.7% 0.81 3.3% 0.70 -10.4% 0.68 0.83 Canadian Dollar 1.32 1.35 2.4% 1.34 1.2% 1.29 -2.7% 1.28 1.37 Euro 0.89 0.89 0.0% 0.96 7.2% 0.89 -0.5% 0.88 0.96 Indian Rupee 64.39 64.66 0.4% 67.82 5.3% 67.09 4.2% 64.09 68.75 Indonesian Rupiah 13,288 13,335 0.4% 13,384 0.7% 13,337 0.4% 12,947 13,573 Japanese Yen 110.98 111.54 0.5% 116.92 5.4% 104.28 -6.0% 100.15 118.57 Malaysian Ringget 4.28 4.32 1.0% 4.48 4.7% 4.10 -4.1% 3.95 4.50 Phillipine Peso 49.91 49.87 -0.1% 49.98 0.1% 46.45 -6.9% 46.24 50.40 Singapore Dollar 1.38 1.39 0.2% 1.45 4.7% 1.35 -2.4% 1.34 1.45 South Korean Won 1,132.75 1,127.20 -0.5% 1,186.95 4.8% 1,172.75 3.5% 1,090.05 1,210.50 Taiwan Dollar 30.33 30.20 -0.4% 31.96 5.4% 32.38 6.7% 30.03 32.52 Thailand Bhat 33.93 34.40 1.4% 35.89 5.8% 35.25 3.9% 33.92 36.03 Note: A positive percent change reflects a weakening of the U.S. dollar and a strengthening of the foreign currency. Source: Wells Fargo Securities LLC BRP CONTINUED FROM PAGE 13 Play dirty. Your customers. Want to go off-road and protect their ride. Your dealership. Wants happy customers and increased profits. Aegis Powersports – we understand off-road. The best F&I provider in the industry, with the grit for dirt. It's off-road season – time to play dirty. Official Service Contract Provider of the CMDA California Motorcycle Dealers Association Award-Winning Products 800.572.5099 www.AegisPowersports.com © 2016 Aegis Extended Service, LLC. Aegis Powersports products backed by Aegis Security Insurance Company, A.M. Best "A" Rated.

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