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Arctic Cat garments sales essentially flat for Q3
23 Jan '08
4 min read
Sales of Arctic Cat's ATVs totaled $70.1 million versus $91.8 million in the prior-year third quarter. Year-to-date ATV sales were $207.4 million compared to $285.8 million in the first nine months of last fiscal year.
Arctic Cat's Prowler utility vehicle and ATVs with large-displacement engines continued to be strong contributors to the company's ATV business. As announced on January 4, 2008, due to the industry's sluggish retail ATV sales, Arctic Cat has reduced its planned ATV production for fiscal 2008 in order to align dealer inventories with demand.
Parts, garments and accessories (PG&A) sales were essentially flat at $29.5 million compared to $29.9 million in the prior-year third quarter. During the quarter, snowmobile PG&A sales increased as a result of early season snowfalls, offsetting a decline in ATV PG&A sales. Year-to-date PG&Asales totaled $76.4 million versus $75.3 million in the year-ago period, primarily fueled by increased snowmobile parts and accessories sales.
Arctic Cat anticipates increased fiscal 2008 fourth-quarter net sales for the period ending March 31, 2008, to range from $192 million to $212 million, compared to $172.6 million for the same period last year. The increase is primarily attributable to planned fourth-quarter ATV sales to dealers. Net earnings in the fourth quarter are estimated to be between $0.21 and $0.25 per diluted share. The company reported a net loss of $1.6 million, or $0.08 per diluted share, in the prior-year quarter.
Arctic Cat expects sales for the full year ending March 31, 2008, to be in the range of $645 million to $665 million, compared with record net sales in fiscal 2007 of $782.4 million. Earnings per diluted share for the 2008 fiscal year are now estimated to be between $0.01 and $0.05 versus year-ago diluted earnings per share of $1.15.
Conference Call:
A conference call is scheduled for 10:30 a.m. CT (11:30 a.m. ET). To listen to the live webcast or replay of this call via the Internet, go to the corporate portion of the company's website. The replay will be available through January 30, 2008.
Arctic Cat's Prowler utility vehicle and ATVs with large-displacement engines continued to be strong contributors to the company's ATV business. As announced on January 4, 2008, due to the industry's sluggish retail ATV sales, Arctic Cat has reduced its planned ATV production for fiscal 2008 in order to align dealer inventories with demand.
Parts, garments and accessories (PG&A) sales were essentially flat at $29.5 million compared to $29.9 million in the prior-year third quarter. During the quarter, snowmobile PG&A sales increased as a result of early season snowfalls, offsetting a decline in ATV PG&A sales. Year-to-date PG&Asales totaled $76.4 million versus $75.3 million in the year-ago period, primarily fueled by increased snowmobile parts and accessories sales.
Arctic Cat anticipates increased fiscal 2008 fourth-quarter net sales for the period ending March 31, 2008, to range from $192 million to $212 million, compared to $172.6 million for the same period last year. The increase is primarily attributable to planned fourth-quarter ATV sales to dealers. Net earnings in the fourth quarter are estimated to be between $0.21 and $0.25 per diluted share. The company reported a net loss of $1.6 million, or $0.08 per diluted share, in the prior-year quarter.
Arctic Cat expects sales for the full year ending March 31, 2008, to be in the range of $645 million to $665 million, compared with record net sales in fiscal 2007 of $782.4 million. Earnings per diluted share for the 2008 fiscal year are now estimated to be between $0.01 and $0.05 versus year-ago diluted earnings per share of $1.15.
Conference Call:
A conference call is scheduled for 10:30 a.m. CT (11:30 a.m. ET). To listen to the live webcast or replay of this call via the Internet, go to the corporate portion of the company's website. The replay will be available through January 30, 2008.
Arctic Cat Inc
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