Sales increased, but earnings declined from a year earlier in the second quarter at Arctic Cat Inc.
The Thief River Falls-based manufacturer reports sales grew 15% to a record $276.3 million while earnings dropped to $19.2 million for the quarter. In last year's second quarter, Cat's sales were at $240.7 million and earnings were $19.7 million. Also in this quarter Arctic Cat repurchased 401,500 shares of its stock.
Much of the sales growth can be attributed to a 35% increase in ATV sales that grew to $135.8 million from $100.6 million in the second quarter last year. Year to date, ATV sales are up 27%.
Snowmobile sales were flat at $111.4 million this quarter, vs. last year's $112 million in the quarter. Year to date, snowmobile sales are at $163.5 million, compared to $162.7 million last year.
Parts, garments and accessories sales were up 3%, at $29 million this quarter. Last year's second quarter sales were $28.1 million.
More info:
www.arcticcat.com