arctic cat atvs a growth star
Amsnow
So, how is Minnesota-based Arctic Cat doing overall? Quite well say Cat spokesmen. "For the year, we remain on track to achieve net sales growth of 2 to 4 percent, driven by increased ATV sales," said Christopher A. Twomey, president and chief executive officer.
Award-winning innovations of Arctic Cat all-terrain vehicles (ATVs) have led to key growth for the company based in Thief River Falls, MN. ATV sales grew to $31.5 million from $20.6 million in the prior-year period, a year-over-year increase of 53 percent.
"Arctic Cat is becoming an ATV company that also produces snowmobiles," Twomey said. "In fiscal 2004, we expect to produce more ATVs than snowmobiles and, significantly, ATV unit revenues will exceed that of snowmobiles for the first time in our company's history. We're proud to offer the most extensive and complete ATV line currently available."
The company unveiled its new model line-up to dealers in June, introducing eight new models, four new engines, 14 major technology enhancements and more unique packages for the award-winning MultiRack Platform(TM) (MRP) ATV, which was named "2003 Product Innovation of the Year." This expands Arctic Cat's offerings to more than 25 ATV models in its 2004 line-up.
For the popular MRP ATV, Arctic Cat more than doubled the number of accessory attachments to over 40, and created nine customized accessory packages aimed at specific applications, including construction, ranching, fishing, camping, landscaping and hunting.
"Building on Arctic Cat's tradition of innovation, we also are pleased to be the first manufacturer to offer integrated shelters on our ATVs," Twomey said. Called "Rapid" packages designed for select MRP models, these tent-like shelters attach to the front and rear ATV racks and can be quickly deployed, comfortably enclosing the ATV and up to two people. "Rapid" packages include a fishing shelter for ice fishing, as well as a hunting blind on the big game and waterfowl packages.
New ATVs introduced in June include Arctic Cat's most powerful ATV yet, with a 650cc V-Twin engine.
The company also entered the sport performance ATV segment with a 400cc DVX model featuring removable fenders. The 400 class ATV is the largest segment of the sports performance category, making this an important market entry.
The company also launched two new youth models.