Arctic Cat Shows 3rd Quarter Profit

| January 27, 2010 | 0 Comments

MINNEAPOLIS — Arctic Cat Inc. on Wednesday reported that it moved to a profit in its third quarter as it cut costs to cope during the difficult economy.

The snowmobile maker reported that it earned $2.6 million, or 14 cents per share, for the quarter, compared with a loss of $2.7 million, or 15 cents per share, for the same quarter last year.

Sales fell 25 percent to $131 million as fewer consumers shopped for recreational vehicles.

Analysts surveyed by Thomson Reuters expected the company to post a loss of 15 cents per share on revenue of $116.5 million.

Arctic Cat’s CEO Christopher Twomey said the company was pleased with the results given the difficult selling conditions and said the company plans to continue to lower its costs moving forward.

The company also reaffirmed its sales guidance for the year at $425 to $460 million but has not provided earnings guidance for the year, although it says it expects a per share improvement over 2009.

Shares of Arctic Cat fell 3 cents to $8.98 in afternoon trading.

About Arctic Cat

Arctic Cat Inc., based in Thief River Falls, Minnesota, designs, engineers, manufactures and markets snowmobiles and all-terrain vehicles (ATVs) under the Arctic Cat brand name, as well as related parts, garments and accessories. The Company markets its products through a network of independent dealers located throughout the contiguous United States and Canada, and through distributors representing dealers in Alaska, Europe, the Middle East, Asia and other international markets. The Arctic Cat brand name is among the most widely recognized and respected names in the snowmobile and ATV industry.

More information can be found on the Arctic Cat website: www.arcticcat.com