cat finances on record pace

Arctic Cat's results for its second fiscal quarter reflect a net sales increase of 11 percent and a 9 percent gain in net earnings versus last year's same quarter statement. For the first half of Cat's fiscal year, the Thief River Falls, Minnesota recreational products manufacturer shows a 5 percent gain in net sales and an 8 percent increase in net earnings.

"…The record sales and net earnings achieved this quarter… are the highest of any quarter in our company's history," says Cat prez and CEO Chris Twomey. Cat has posted double-digit sales growth in all areas of its business- sleds, ATVs and PG&A (parts, garments and accessories).

Cat gained greater market share in its ATV segment as its Arctic Cat brand of 4-wheelers continues to outpace the US industry's double-digit growth.

In its snowmobile business, the retail season is just underway, but Cat dealers report encouraging early season retail sales activity. Extra early orders, those retail orders accompanied by a cash down payment, increased 30 percent over last season.

Based on increased attendance at consumer snowmobile shows and other events already, Cat officials expect a healthy snowmobile sales season.

"We anticipate that fiscal 2002 snowmobile revenues will increase 10 to 15 percent based on orders already received and low dealer inventories. We also continue to expect that ATV revenues will increase during this fiscal year and that our retail sales will again outpace the industry," Twomey said.