This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Arctic Cat Reports Record Earnings In Fiscal 2013 Second Quarter

Stocks in this article: ACAT

Arctic Cat Inc. (NASDAQ: ACAT) today reported that net earnings increased 17 percent to a record $25.0 million, or $1.80 per diluted share, for the fiscal second quarter ended September 30, 2012, compared to prior-year net earnings of $21.4 million, or $1.15 per diluted share. Net sales in the quarter rose 12 percent to $229.0 million versus net sales of $204.8 million in the same quarter last year.

“We are very pleased to report record earnings and EPS on double-digit sales gains in the fiscal 2013 second quarter, on top of a strong quarter last year,” said Claude Jordan, Arctic Cat’s chairman and chief executive officer. “We are beginning to benefit from our growth strategy to enter new market segments with innovative new products, such as our Wildcat pure sport side-by-side, while focusing on operational excellence and cost control. As a result, we continued to leverage higher sales volumes and a lower cost structure to again deliver profitability gains in the second quarter.”

Among the highlights of Arctic Cat’s fiscal 2013 second-quarter financial results versus the prior-year quarter:

  • Net sales grew 12 percent, chiefly fueled by sales of Wildcat recreational off-highway vehicles (ROVs);
  • The company reported record net earnings and earnings per diluted share, up 17 percent and 57 percent, respectively;
  • Operating expenses as a percent of sales declined to 11 percent versus 12 percent;
  • Operating profit rose 18 percent to $38.8 million, up from $32.9 million;
  • The company had no long-term debt.

For the six months ended September 30, 2012, Arctic Cat’s net earnings rose 41 percent to a record $27.0 million, or $1.95 per diluted share, compared to net earnings of $19.1 million, or $1.02 per diluted share, in the prior-year period. The company’s year-to-date net sales increased 22 percent to $340.3 million versus net sales of $279.8 million in the first six months last year.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs