Can-Am Headquarters ...Aurora Wheelers ATV Forum > Rides | ATV News and Events > ATV | OHV News > Arctic Cat earnings, sales up in Q1 |
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outlandish AWF Admin 
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LATEST NEWS The Minneapolis/St. Paul Business Journal - 2:56 PM CDT Thursday Arctic Cat earnings, sales up in Q1 Arctic Cat's profit increased in the first quarter of fiscal 2006, as sales rose 5 percent, the company reported Thursday. The Thief River Falls-based snowmobile and all-terrain vehicle (ATV) maker posted net income of $448,000 in the first quarter ended June 30, more than triple its profit of $124,000 in the same quarter last year. Earnings per diluted share rose to 2 cents, up from 1 cent a year ago. Net sales came in at $107.9 million in the first quarter of 2006, compared to $102.6 million in the same period the previous year. ATV sales increased 6 percent to $41.4 million in the first quarter, while snowmobile sales rose 3 percent to $52 million. "Sales increased across all product lines and exceeded our expectations, due to slightly higher than anticipated sales to dealers," said Christopher Twomey, Arctic Cat chairman and CEO, in a statement. Arctic Cat's first-quarter results beat Wall Street's expectations. Analysts surveyed by Thomson Financial Network had projected a loss of 3 cents a share on $102.3 million in revenue. The company also provided its second-quarter guidance, calling for earnings of 90 cents to 94 cents a share and revenue of $255 million to $267 million. Analysts have projected earnings of 97 cents a share on $249.1 million in revenue. Arctic Cat (Nasdaq: ACAT) shares were up $1.59, or 7.7 percent, to $22.31 in afternoon trading Thursday. jvomhof@bizjournals.com © 2005 American City Business Journals Inc.
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