AmSnow.com is now SnoWest.com
QUARTERLY REVIEW BY CATEGORIES
Year-Round Products
Revenues from Year-Round Products increased by $130.5 million, or 32.9%, to $526.6 million for the three-month period ended April 30, 2018, compared with $396.1 million for the corresponding period ended April 30, 2017. The increase was primarily attributable to a higher volume of SSV and 3WV sold, partially offset by an unfavorable foreign exchange rate variation of $8 million.
Seasonal Products
Revenues from Seasonal Products increased by $26.1 million, or 8.0%, to $350.4 million for the three-month period ended April 30, 2018, compared with $324.3 million for the corresponding period ended April 30, 2017. The increase resulted primarily from a higher volume of PWC sold, partially offset by an unfavourable foreign exchange rate variation of $5 million.
Propulsion Systems
Revenues from Propulsion Systems decreased by $10.8 million, or 10.6%, to $91.1 million for the three-month period ended April 30, 2018, compared with $101.9 million for the corresponding period ended April 30, 2017. The decrease was mainly attributable to a lower volume of motorcycle engines sold.
PAC (Parts, Accessories, Clothing and other services)
Revenues from PAC increased by $14.0 million, or 9.1%, to $168.6 million for the three-month period ended April 30, 2018, compared with $154.6 million for the corresponding period ended April 30, 2017. The increase was mainly attributable to a higher volume of SSV and PWC accessories.
Operating expenses increased by $28.7 million, or 17.2%, to $195.4 million for the three-month period ended April 30, 2018, compared with $166.7 million for the three-month period ended April 30, 2017. The increase was mainly attributable to higher selling and marketing expenses for continued product investments and to an unfavourable foreign exchange rate variation of $10 million.
Declaration of dividend
The Board of Directors approved a quarterly dividend of $0.09 per share for holders of its multiple voting shares and subordinate voting shares. The dividend will be paid on July 13, 2018 to shareholders of record at the close of business on June 29, 2018. The payment of each quarterly dividend remains subject to the declaration of that dividend by the Board of Directors. The actual amount, the declaration date, the record date and the payment date of each quarterly dividend are subject to the discretion of the Board of Directors.
Fiscal Year 2019 Guidance
The table below sets forth BRP’s financial guidance for Fiscal Year 2019 when compared to actual results for Fiscal Year 2018, as revised to reflect the adoption of new IFRS 9 Financial Page 4 instruments (IFRS 9) and IFRS 15 Revenue from contracts with customers (IFRS 15) standards effective as of February 1, 2018.