Home » Features » March 12, 2007 – Finance Digest

March 12, 2007 – Finance Digest

Kawasaki reports sales increase
Kawasaki Heavy Industries (KHI) reported a 9 percent sales increase through the first nine months of the fiscal year in its consumer products and machinery division, which includes powersports products.
That 9 percent increase is in comparison to the year-ago figure for the company’s nine-month period, which ended Dec. 31.
That sales increase, however, has slowed somewhat as Kawasaki reported a 14 percent increase after the first half of its fiscal year.
Overall, the net sales for the consumer products and machinery division were $2.4 billion, or 29 percent of the company’s overall sales.
Kawasaki also reports its sales for its other divisions, which include shipbuilding, aerospace, gas turbines and machinery among others. The company saw its biggest sales percentage increase in its aerospace division, which was up 34 percent compared to last year.
Overall, the company continues to have solid net sales increases, with the first nine months’ total of $8.4 billion up 13 percent from a year ago.

KTM reports increase in new unit, parts sales
KTM Power Sports AG reported an increase of sales in both new units and accessories in its 2007 fiscal first quarter.
Overall, the company reported a 18 percent sales increase to Euro 129.5 million ($170 million) compared to the previous year period. The company said an improved model mix, including a higher ratio of two-cylinder models, was partly the reason for the sales increase.
The company’s gross margin also rose, increasing 15 percent to Euro 46 million ($60 million) compared to the previous year period.

Pirelli cycle and overall tire sales increase
Pirelli & C. SpA reported an increase in revenues, including in its tire sales, in its first three quarters.
The Italian company said its tire sales achieved more than a 10 percent revenue growth in the first three quarters, which ended Sept. 30. Tire revenue for that period was Euro 2.9 billion ($3.9 billion).
The consumer business tire sector also was up, increasing 9 percent in revenue compared to the previous year period. Pirelli said the motorcycle segment continues to show good profitability, where the volume and the mix more than compensated for the increasing costs of raw materials.
Pirelli & C. SpA said its overall company revenues were up 9.1 percent.

Cycle Country’s quarterly revenue slips nearly 22 percent
Cycle Country Accessories Corp. reported its first quarter revenue fell nearly 22 percent compared to the previous year period.
The Milford, Iowa, based manufacturer said its revenue was $4.6 million, off more than $800,000 from 2006 after a warm winter thawed the company’s snow plow sales. Cycle Country, which says it has more than 50 percent share of the worldwide market in several product categories, also said its ATV segment sales were down.
The company earlier reported that its 2006 sales decreased 4.2 percent.

UTI reports rise in revenue, decrease in student total
Universal Technical Institute (UTI) reported a revenue increase for its fiscal 2007 first quarter, but also noted its advertising push to draw more students has not been as successful as the company had hoped.
The Phoenix-based company said its net revenue was $89.5 million, a nearly 5 percent increase over the same period last year. The revenue increase, the company stated in a press release, came as a result of higher tuition prices and more students taking two courses at the same time in comparison to a year ago.
However, the company reported its average undergraduate enrollment for the first quarter was 17,265, a decrease of approximately 1 percent from the same period a year ago. That decrease comes after UTI increased its advertising expenses.
The company’s net income for the first quarter — $6.9 million — fell nearly 33 percent compared to a year ago.

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Copyright 2007 Powersports Business

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