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The Arctic Cat Purrs

Shares jump after a boost in third-quarter guidance.
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The Arctic Cat

(ACAT)

jumped 10% Wednesday after the snowmobiler boosted third-quarter guidance.

The Thief River Falls, Minn., company made $20 million, or $1.03 a share, for the quarter ended Sept. 30, up from the year-ago $19 million, or 96 cents a share.

Revenue rose to $285 million from $276 million a year earlier.

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Analysts surveyed by Thomson Financial were looking for a $1.06-a-share profit on sales of $299 million.

Some snowmobile and ATV sales to dealers that were anticipated to occur in the second quarter will now occur in the third quarter, Arctic Cat said, due to the timing of shipments.

Arctic Cat continues to expect full-year revenue growth in the range of 5% to 9% for snowmobiles, a 3% to 5% increase in ATV sales, and a gain of 3% to 6% for parts, garments and accessories sales.

The company said it expects to make 33 cents to 38 cents a share for the third quarter on revenue of $210 million to $230 million. Analysts were looking for a 29-cent profit on sales of $210 million.

Shares rose $1.68 to $18.16.