Arctic Cat Inc. posted a smaller fourth-quarter net loss of $5.1 million in the fourth-quarter, compared to a loss of $6.2 million a year earlier, the Associated Press reports.
Revenue for the traditionally slow three-month period that ended March 31 increased 15 percent to $113.2 million from $98.5 million.
For the fiscal year, the Thief River Falls maker of snowmobiles and all-terrain vehicles earned a record $39.7 million, up 33 percent from $29.9 million the previous year. Net sales also climbed 15 percent to $671.6 million.
“We had another year of outstanding financial performance and are very pleased to report record net earnings and EPS for the fiscal 2013 full year,” Claude Jordan, Arctic Cat’s chairman and chief executive officer, said in a statement. “Higher sales volumes, combined with our ongoing focus on operational excellence and cost control, again contributed to strong top- and bottom-line results for fiscal 2013.”
Meanwhile, Arctic Cat's board of directors declared a quarterly dividend of 10 cents per common share will be paid on June 14 to shareholders of record on May 31, according to a separate news release.
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