slipped 3% late Tuesday after the snowmobile maker warned that a transportation snafu would punish second-quarter earnings.
The Thief River Falls, Minn., company trimmed its second-quarter earnings estimate to 92 cents a share on sales of around $239 million. The company had earlier forecast earnings of $1.01 a share on revenue of $250 million.
Analysts surveyed by Thomson First Call predicted the company would make $1.02 a share on sales of $246 million.
"A transportation delay in shipping approximately 1,000 to 1,500 units to dealers in the final days of the quarter, most of which were our popular new M7 mountain snowmobiles, will cause second-quarter sales and earnings to be lower than originally estimated," said CEO Christopher Twomey. "This is a one-week hiccup. All of the delayed snowmobile products will be shipped this week."
The company, signaling that it expects to make up lost sales, held its fiscal 2005 guidance steady at earnings of $1.48 a share on sales of around $688 million. The company is due to report earnings before the market opens Oct. 21.
Late Tuesday, Arctic Cat slipped 83 cents to $25.17.