Nov. 8, 2010 – Arctic Cat sales, earnings on the rise
November 8, 2010
Filed under Features
Minnesota manufacturer Arctic Cat increased both its sales and its net earnings in its recent quarter, the company announced.
Both the company’s four-wheel — particularly its Prowler UTVs — and snowmobile vehicle sales increased in the quarter, according to a company press release.
Arctic Cat’s quarterly sales rose to $175.8 million, an increase of 6 percent over the year-ago quarter. Its quarterly net earnings improved 20 percent over a year, reaching nearly $18 million.
“Our improved sales and earnings results in the fiscal 2011 first half demonstrate the traction we are gaining,” Arctic Cat CEO Christopher Twomey said in a press release.
The company’s four-wheel sales grew 9 percent in the quarter and were chiefly driven by its Prowler sales. Snowmobile sales also saw modest increases in the quarter, up 7 percent compared to a year ago. The improvement in sled sales was attributed partly to higher international sales to distributors.
Arctic Cat noted both dealer and its factory inventories have declined this year, with the latter dropping 28 percent.
Arctic Cat’s PG&A sales declined 4 percent in the quarter, something the company said was attributable to a change in shipment timing.
Looking ahead, Arctic Cat raised its full-year sales and earnings guidance. Arctic Cat expects its fiscal net sales to fall between $453 million-$463 million. PSB