cat to buy back 13 million shares

Arctic Cat announced that its Board of Directors has authorized a repurchase of up to $20 million in additional shares of its common stock. The amount represents approximately 1.3 million shares, or 5.7 percent of its current outstanding shares. This repurchase authorization is the fifth such buy-back.

In total, Cat has repurchased and cancelled over 7 million common shares to date.

"This share repurchase program is another way we can build shareholder value for investors," said Cat president and CEO Chris Twomey. "It reflects the success we are having creating leading snowmobile and ATV products in the leisure recreation industry along with related apparel and accessories. It also reflects our optimism about the near-term growth prospects for both Arctic Cat and the industry. Wt hthese factors in mind, we continue to think of our shares as undervalued and out Board of Directors believes that the repurchase of our shares is an excellent use of our cash."