- Net sales growth of approximately 9 percent was fueled by gains across all product lines, with the highest dollar contributions coming from the recently launched Wildcat X side-by-side and snowmobiles.
- Gross margin improvement of nearly 4 percentage points was due to higher volumes, product mix and improved efficiency. The company expects gross margins to moderate in subsequent quarters, as it begins supplying lower margin snowmobile units to Yamaha in the fiscal 2014 second quarter.
- Operating expenses as a percent of sales declined approximately 30 basis points to 17.1 percent compared to 17.4 percent. The company continued to increase investment in research and development to ensure a strong pipeline of new products and technologies, while maintaining strict cost controls.
- Operating profit rose 172 percent to $8.5 million from $3.1 million.
- The company had no debt.
Arctic Cat Reports Record Fiscal 2014 First Quarter Results
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