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According to the Guardian newspaper in the UK , disgraced Norton Motorcycles owner Stuart Garner could be facing up to two years in jail over breaches of pensions rules . He admitted three offences of illegally investing millions of pounds of pension savings into his business at Derby magistrates court in early February 2020 . Garner acquired the classic marque in 2008 and was feted by a series of UK government ministers and publicly financed business assistance and promotion organizations before the company slumped into administration in January 2020 , leaving pension fund holders owed about £ 14m . In June 2020 , Garner was ordered to pay the money back after the pensions regulator in the UK had ruled that he acted " dishonestly ." It is understood the pension holders are still waiting for any of their funds to be returned . Garner will be sentenced at the end of February .

The California Air Resources Board ( CARB ) has reached a settlement agreement with North Las Vegas based Dynojet Research ( and its Dynatek ignitions subsidiary ) for $ 2.1m for violations of CARB ' s air quality regulations . This is the second enforcement action against Dynojet . In 2007 , CARB settled with the company for $ 1m for selling non-exempt aftermarket vehicle parts in California that violated the state ' s air quality regulations . CARB says the latest violations were discovered in part due to CARB ' s relationship with the U . S . EPA . The infractions are said to have revolved around Dynojet ' s Power Commander . " While Dynojet received approval for exemptions of several add-on or modified parts from its product lines , the company also offered products such as the Power Commander and Dynatek ignition system that have not received exemptions from CARB and failed to meet California ' s regulations ."

Having won the Dakar Rally with KTM in 2017 , January saw Briton Sam Sunderland score his second career Dakar Rally win , delivering a first ever win for GasGas and the 19th win for the KTM , Husqvarna , GasGas brand family . The win was secured riding what essentially was a rebadged KTM 450 Rally - the bike he won the 2017 rally on .

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interest expense . Diluted EPS was $ 0.14 versus a loss of $ 0.63 in Q4 2020 . For the full year 2022 , Harley says it expects HDMC revenue growth of + 5 to + 10 %, HDMC operating income margin of 11 to 12 %; HDFS operating income to decline by -20 to -25 % and capital investments of $ 190m to $ 220m - " the outlook assumes that supply chain challenges improve in the second half of the year . " The company ' s cash allocation priorities are to fund growth through The Hardwire initiatives , pay dividends and execute discretionary share repurchases . " Revenue from HDMC was up significantly during 2021 Q4 , primarily driven by a + 39 % increase in wholesale shipments , favorable motorcycle unit mix resulting from our Hardwire actions and pricing in the U . S . market . Parts & Accessories fourth quarter revenue was up 13 %, while General Merchandise was up + 46 % over Q4 2020 , as both businesses were favorably impacted by increased wholesale shipments and refreshed product offerings . 2021 Q4 gross margin was down -2 % compared to 2020 Q4 , as stronger units and pricing were offset by negative cost headwinds across the supply chain and higher additional EU tariffs ( 1.3 % impact ). Q4 operating margin was improved versus prior year due to lower operating expenses and heavier restructuring charges in the prior Q4 . Harley-Davidson generated $ 976m of cash from operating activities in 2021 . Cash and cash equivalents were

$ 1.9bn at the end of 2021 , down $ 1.4bn from the end of 2020 as the company has normalized cash balances . The company ' s 2021 effective tax rate was 21 percent , which was favorably impacted by several discrete income tax benefits recorded in the year .

Income statements in THREE MONTHS ENDED TWELVE MONTHS ENDED $ 1,000s ( except share ) 2021 Q4 2020 Q4 2021 Q4 2020 Q4

6 AFTERMARKET MOTO DESIGN - MARCH 2022 www . AMDchampionship . com