The Arctic Cat(ACAT Quote) swung to a loss on lower sales in the first quarter, but the stock padded higher as both numbers were better than expected.
The Arctic Cat lost $4.5 million, or 23 cents a share, in the latest quarter, including an expense of a penny a share from stock options. According to Thomson First Call, analysts had expected a loss of 28 cents a share, on average, in the latest quarter. A year ago, The Arctic Cat earned $448,000, or 2 cents a share.
Sales were $96.4 million, down from $107.9 million a year ago but above the consensus estimate of $93.9 million. Snowmobile sales fell 60% from a year ago to $20.9 million as the company shifted production into coming quarters. The Arctic Cat stuck by a prediction that full-year snowmobile sales will be higher than last year's. ...
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