cat sales beating last year
Amsnow
Cat happily announced net sales for the second quarter of this year as better than last year's record second quarter earnings.
Cat surpassed 2003's earnings of $237.7 million with 2004's earnings of $240.7 million. Despite some logistical problems, which caused a large shipment of sleds to be pushed in the third quarter of the fiscal year, A.C. still came out ahead of expectations.
CEO Chistopher A. Twomey said "Our outlook for the full year remains unchanged. We're excited about our 2005 product lineup, and we continue to expect another year of record sales and increased earnings."
The record quarter was pushed by sales of ATVs which grew 10% from $91.6 million to $100.6 million.
Competitive prices and an expansion of the product line were given recognition as the main reasons for Cat's ATV market growth.
Snowmobile sales decreased by 5% compared to last year at this time. Again, this is mainly due to a logistical problem with the timing of shipments. The timing caused the sale of many units to be pushed onto the 3rd quarter sheet. Total year-to-date snowmobile sales for Arctic Cat grew 7% when compared with last year.
An exciting and environmentally-friendly line of sleds are churning out of Cat factories this year and strong sales means a strong industry and new advances for all snowmobilers.