PowerSports Business

November 6, 2017

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FINANCE 14 • November 6, 2017 • Powersports Business www.PowersportsBusiness.com three months were $0.30 compared to $0.35 last year, a decrease of 14.3 percent. Results for the three months ended July 31, 2017 include an impairment charge of $19.4 mil- lion related primarily to costs previously capi- talized in connection with the development of business operating software. For the year ended July 31, 2017, rev- enue, gross margin and net income were $1.4 billion, $632.0 million and $394.2 million, respectively. These represent an increase in revenue of $179.5 million, or 14.2 percent; an increase in gross margin of $87.4 million, or 16.1 percent; and an increase in net income of $123.9 million, or 45.8 percent, respectively, from the same period last year. Fully diluted earnings per share for the year ended July 31, 2017, were $1.66 compared to $1.11 last year, an increase of 49.5 percent. Excluding the impact of foreign cur- rency-related gains; impairment of long- lived assets; acquisition related fees; certain income tax benefits, foreign income tax credit limitations, and payroll taxes related to accounting for stock option exercises, non-GAAP fully diluted earnings per share for the three months and year ended July 31, 2017, were $0.35 and $1.29, respec- tively. These represent increases of 16.7 percent and 22.9 percent, respectively, from the same periods last year. Copart, Inc., founded in 1982, is a global leader in online vehicle auctions. Copart's innovative technology and online auction platform links sellers to more than 750,000 members in over 170 countries. HONDA ADDED TO THE DOW JONES SUSTAINABILITY WORLD INDEX Honda Motor Co., Ltd. announced that the company was selected for the first time as a component of the Dow Jones Sustainabil- ity World Index (DJSI World). The Dow Jones Sustainability Indices (DJSI) serve as one of the key benchmarks for socially responsible investing. The DJSI are the investment indices developed and offered cooperatively by the U.S.-based S&P Dow Jones Indices and Switzerland-based RobecoSAM, which evalu- ate sustainability of the world's leading com- panies in terms of economic, environmental and social criteria and select companies that demonstrate overall excellence for the indices. Based on their annual DJSI review, S&P Dow Jones Indices and RobecoSAM pub- lished the components list and Honda was selected as a component of the Dow Jones Sustainability Asia/Pacific Index for three consecutive years. In the review, Honda was also ranked in the top 5 for the global auto- mobile sector and added to the DJSI World. Honda said that through unique creations and challenges as a mobility company, Honda will continue providing appealing products and services that bring joy to customers and helping to solve various social issues, thus, Honda will strive to become a company soci- ety wants to exist. HISTORIC MOTORCYCLE BRAND UP FOR AUCTION A unique offering by Mecum Auctions will take place in Las Vegas on Jan. 27, 2018, at the South Point Hotel & Casino. The iconic Excelsior-Henderson motorcycle brand and all its intellectual property will be auctioned at the 27th annual Mecum Las Vegas Motorcycle Auction, which will span Jan. 23-27 and auction off 1,750 motorcycles. Included in the purchase will be the ownership of the Excelsior-Henderson brand name, all federally registered trade- marks and web domains, and includes the previous motorcycle frame and engine designs, as well as the expired patents that can only be effectively exploited by the owner of Excelsior-Henderson. Excelsior-Henderson was historically one of the "Big 3" among motorcycle manu- facturers and saw its greatest successes under the ownership and direction of Ignaz Schwinn, whose mighty two-wheeled empire in Chicago earned most of its profit from bicycles. From 1911-21, Hendersons were the only 4-cylinder motorcycles pro- duced in the U.S., and by the late 1920s, it was Excelsior-Henderson and Indian that dominated the 45 cubic-inch market with the Super X and Scout models. Their big models — the Henderson Four, as well as the Indian Chief and Four — were admired the world over, and were in many ways the most attractive and technically interesting motorcycles built in the U.S. Neverthe- less, Schwinn correctly foresaw a major downturn in motorcycle sales for 1930, and decided to pull the plug on his big bikes and focus on the ones without motors, which were likely to continue selling when jobs were scarce. And he was right; Schwinn bicycles thrived through the 1960s and '70s, but the company never again produced motorcycles. But the Excelsior-Henderson name has quietly survived, waiting for the right combination of capital and inspiration to roar back to life. The vintage Excelsior and Henderson motorcycles still in existence today are highly collectible and celebrated examples that are among the best early motorcycles ever cre- ated. At last year's Mecum Las Vegas auction, examples bearing both names landed among top sales. A 1912 Henderson Four took top sales honors at $490,000, followed by a 1913 Henderson Four that brought $150,000. A 1928 Excelsior Big Bertha also fell into the top sales hammering for $117,500. It is clear that the interest in the brand and the endearing respect for its creations has not waned in the past century. PSB DIGEST CONTINUED FROM PAGE 13

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