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Arctic Cat VP sells $1 million in stock

February 7, 2012
Filed under News

Mary Ellen Walker, VP/GM of PG&A at Arctic Cat, has sold more than $1 million in the company’s stock in the past year, with the most recent sale of 6,968 shares filed last week, according to SEC filings and a report from MMD Newswire.

Walker has sold 67,017 shares in the past 12 months, with proceeds totaling $1,074,486. In addition to the recent sale of nearly 7,000 shares, Walker also exercised 11,333 shares.

According to an MMD Newswire analysis, more than 6.3 million shares of Arctic Cat stock have been sold for $85.4 million by company insiders over the past 12 months. In that same time, only 3,500 stocks for a total of $44,855 were purchased by company insiders.

Suzuki reports Q3 losses

Suzuki Motor Corp. reported decreased net sales, operating income and net income for the first nine months of its 2011 fiscal year, despite sales increases in the motorcycle and marine and power products segments.

Suzuki reported its unfavorable results were the result of financial turmoil in Europe, a domestic economy recovering from the March 11 earthquake and tsunami, a slowdown in the overseas economy and the appreciation of the yen. As a result, consolidated net sales for the first nine months of the fiscal year decreased 6.7 percent to nearly Yen1.8 trillion. Also contributing to that number were decreased sales in automobiles in India.

Operating income for the nine-month period was down 5.1 percent to Yen87.7 billion, and net income decreased 4.7 percent to Yen40.6 billion when compared to the same period in 2010.

The motorcycle segment saw a 1.3 percent increase in sales to Yen188.8 billion year-on-year. The improvement was due mostly to the increase of wholesales in North America, which were up 21,000 units to Yen24.5 billion. Operating income for the segment also grew Yen4.2 billion year-over-year, but there was an operating loss of Yen2.8 billion due to the impact of the yen appreciation and flooding in Thailand.

Sales in the marine and power products segment saw more success, with a 4.6 percent increase to Yen35.0 billion. Sales in North America increased 13.7 percent to Yen9.2 billion. However, operating income decreased 8.1 percent to Yen4.7 billion.

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