arctic cats sales are up
Amsnow
Arctic Cat reports earnings jumped $3.5 million in its third fiscal quarter, ending Dec. 31st. Net earnings for the quarter increased to $8.2 million, compared to $4.7 million the prior-year's quarter. At the same time, sales grew to $228.1 million for the quarter, compared to $195.3 million for the same period last year.
Christopher Twomey, Arctic's chairman and chief executive officer, said that "Contributing to record sales and increased earnings for the third-quarter were anticipated higher snowmobile sales and continued strong demand for our Prowler utility ATV." He added though that "challenging market conditions for our snow-related products could impact our full-year profitability."
Sales of Arctic Cat snowmobiles totaled $106.4 million in the quarter vs. sales of $74.5 million in the same period last year. Cat offered an extensive new model lineup for the 2007 season. Year-to-date snowmobile sales totaled $248.8 million compared to $238.0 million in the prior year's period. Cat says it's optimistic about the fourth-quarter and anticipates record sales again.