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TheStreet Open House

Arctic Cat Reports Record Earnings In Fiscal 2013 Second Quarter

Stock quotes in this article: ACAT

Business Line ResultsSales in Arctic Cat’s all-terrain vehicle (ATV) business rose 19 percent to $69.7 million, up from $58.8 million in the same period last year. The increase was primarily due to strong global demand from dealers and customers for the Wildcat side-by-side.

During the fiscal 2013 second quarter, Arctic Cat began shipping its new 2013 model year ATVs/ROVs. In addition to offering the Wildcat V-Twin 1000i H.O., the company introduced the new Wildcat 1000 Limited side-by-side, which offers upgraded styling features as part of a standard package. Arctic Cat’s new 2013 models also include five value-priced ATVs, such as the new 500 Core ATV. Additionally, the company introduced three new ATV packages – Limited, XT and CORE – to provide more optional features.

Commented Jordan: “Our entry into the growing sport ROV segment has gone exceptionally well with the Wildcat side-by-side. It is being well-received by enthusiasts and Wildcat sales year to date continue to meet our high expectations. We now have two Wildcat offerings in our portfolio and anticipate launching additional innovative products into this market segment.”

Jordan added: “In August, we were excited to see the Wildcat 1000 named as the top pure sport ROV by a leading industry magazine, after the editors conducted a head-to-head ‘shootout’ comparison against the only competing pure sport side-by-side in the market.”

Arctic Cat’s snowmobile sales in the fiscal 2013 second quarter rose 12 percent to $128.6 million, up from $114.7 million in the prior-year quarter. The company’s new 2013 model year snowmobiles have received numerous industry awards, including: Editor’s Choice for the F1100 Turbo RR (race-replica); Best High Performance for the F800 Sno Pro RR; and Best Crossover for the CrossTour 1100 Turbo.

Arctic Cat is building its 2013 model year snowmobiles on the new ProCross™ performance and ProClimb™ mountain chassis platforms, both of which offer innovative suspension, drive and braking technologies. In addition, during the fiscal 2013 second quarter, the company partnered with world champion snowmobile racer Tucker Hibbert to create a limited edition Tucker Hibbert race-replica model honed to high performance excellence and available to snowmobilers whose passion reflects the same race-winning attitude shared by Tucker Hibbert and Arctic Cat.

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