Arctic Cat reports market share gains
May 13, 2010
Filed under Features
Arctic Cat finished its fiscal year in the black and with a higher market share in its two key vehicle categories despite declining sales.
The Minnesota manufacturer reported net earnings of $1.9 million for its fiscal year after a prior-yet net loss of $9.5 million.
Arctic Cat CEO Christopher Twomey noted the company expects its full-year sales of $450 million to be nearly repeated in its fiscal 2011 year.
For its past fiscal year, Arctic Cat reported a 24 percent decline in sales in its largest category, ATVs. Quad sales, which include UTVs, totaled $187 million.
The company’s snowmobile sales also declined, falling 21 percent compared to the year-ago period to $162 million. Even with those declines, the company noted it picked up North American market share in both the ATV and snowmobile markets.