Matrix’s U.S. Q3 sales up 98 percent
Matrix Fitness Systems, a division of Johnson Health Tech, said its U.S. third-quarter sales, ending Sept. 30, 2007, increased by 98 percent over the corresponding 2006 period — a leap that was fueled by product growth. Over the same period last year, global sales grew 55 percent.
Matrix said in the announcement that it believes that new products, such as the Ascent Trainer, Incline Elliptical and the Hybrid Cycle, as well as various customer service programs, have helped foster growth. It added that it expects the growth trend to continue into 2008.
Matrix’s parent, Johnson Health Tech, has been listed since January 2003 on the Taiwan Stock Exchange as JHT (1736).
Town Sports CEO to resign
Town Sports International Holdings (Nasdaq: CLUB) said CEO Robert Giardina, 49, will resign for personal and health reasons, effective Oct. 31. He will remain in an advisory role and as a member of the board.
Giardina will be replaced by current president Alex Alimanestianu, 48. Alimanestianu has been with the company since 1990 and was named president in 2006. He will retain his current title when he assumes Giardina’s position on Nov. 1, and has also been elected as a member of the board of directors.
Town Sports owns New York Sports Clubs and other health clubs nationwide.
Crocs executives exercise options
Various Crocs (Nasdaq: CROX) executives have been selling shares of the company’s stock recently. Insiders file Form 4s with the SEC to report transactions in their companies’ shares. Open market purchases and sales must be reported within two business days of the transaction.
Here’s a rundown:
>> Director Raymond Croghan exercised options for 50,300 shares and then sold the shares of common stock under a prearranged trading plan. He exercised options for the shares Sept. 27 at $0.51 apiece and then sold all of them the same day for $64.90 to $65.60 apiece.
>> Michael Margolis, vice president of sales and marketing, exercised options for and sold 11,669 shares of common stock under a prearranged trading plan. He exercised options on Oct. 1 for $2.85 apiece and then sold all the shares the same day for $66.49 to $67.72 apiece.
>> President and CEO Ronald Snyder exercised options for 9,734 shares of common stock under a prearranged trading plan. He exercised the unvalued options on Oct. 1 and then sold a total of 64,464 shares owned by his wife the same day for $66.49 to $67.72 apiece.
>> On Oct. 3, Snyder exercised options for 38,936 shares of common stock under a prearranged trading plan. He exercised the options for $0.51 and $10.50 apiece and then sold 53,538 shares on the same day for $68.50 to $68.80 apiece.
All the stock sales were conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material nonpublic information.
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