Arctic Cat makes big strides over previous-year quarter
January 29, 2010
Filed under Features
Although Arctic Cat continues to see its sales decline in a difficult retail environment, the company says it has picked up market share in each of its key vehicle categories.
Arctic Cat reported earnings of $2.6 million in its recent quarter, a marked improvement over the year-ago loss of $2.7 million. Sales for the quarter declined 25 percent to $131 million.
However, the manufacturer said it has gained market share in both its snowmobile and ATV markets.
“We are successfully rescaling Arctic Cat’s business to achieve improved profitability in the current lower-demand environment for recreational products,” Arctic Cat CEO Christopher Twomey said in a press release.
Part of the restructuring plan includes lowering company and dealer inventories. The latter, the company said, have declined 19 percent compared to a year ago. Arctic Cat’s inventory has been reduced by 29 percent.
For more on Arctic Cat’s quarterly report, see an upcoming edition of Powersports Business.