cat sales lead industry

Arctic Cat Inc. reported results for the fiscal 2001 fourth-quarter and year ended March 31, 2001.

For the fiscal year, net sales increased seven percent, to $530.6 million, compared to $494.9 million last year.

"US Industry-wide retail sales of snowmobles increased during the year as a result of the first normal winter snowfall we have seen in four years," said Cat's president and chief executive officer, Christopher Twomey. "Our snowmobile retail sales outpaced the industry."

During the year, Arctic Cat introduced a number of new technologies to its snowmobiles such as a computer-controlled shock absorber system, the SmartRide, and two models of the first commercially available four-stroke snowmobile with significantly lower emissions, noise and increased gas mileage.

Cat's ATV sales again posted double-digit growth during the fiscal year.
Commenting on the outlook for fiscal 2002, Twomey stated: "We are excited about the 2002 ATV model year, which we will kick off in June at our worldwide ATV dealer show. We expect ATV revenues to increase during the next fiscal year. Based on strong snowmobile retail sales, dealer inventories at four-year lows and snowmobile orders already received, we expect fiscal 2002 snowmobile revenues to increase 10 to 15 percent.

Cat's Spring Buy program for deposits on 2002 snowmobiles were up 33% from last year, according to Cat's fourth-quarter results conference call.