Arctic Cat narrows net loss in 4Q, reinstates dividend

Author:
Updated:
Original:

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.

Click here, to follow Arctic Cat's stock performance.

Next Up

police lights

5-year-old dies 3 weeks after assault, mother's charges upped to murder

The girl died three weeks after the assault took place.

hospital, emergency room

2 teens, Texas man suffer life-threatening injuries in MN crash

One of the drivers crossed the center line and hit the other vehicle.

WIkimedia Commons - Frey April 20, 2021

Frey under fire for $359K Agape contract awarded via COVID order

Some council members called it a "misuse" of his powers, but the mayor pushed back.

minneapolis mayor - Sheila Nezhad and Jacob Frey

Minneapolis DFL fails to endorse a candidate for mayor

Sheila Nezhad and Jacob Frey finished first and second, respectively, in the endorsement process.

pontoon

Maplewood man charged with DWI after 'guys weekend' ends in tragedy

The 32-year-old was drunk-driving a pontoon, with one of his friends falling off and dying.

hail

Storm reports: Hail the size of tennis balls, baseballs hammered MN

Big-time hailstones slammed Lonsdale and Cannon Falls.

duluth police department

Man arrested for violent assault, robbery of 78-year-old in Duluth

The victim suffered stab wounds and broken bones in the attack.

Minneapolis police

More body parts found in 2nd area of Northeast Minneapolis

Police are looking for additional body parts.

ambulance

2 killed in head-on crash involving trucks on Highway 23

The crash was reported just before 6 a.m. Thursday.

Related

Arctic Cat reports jump in annual net sales and income

Double-digit gains helped fuel the Plymouth-based maker of snowmobiles and all-terrain vehicles. Arctic Cat saw a 26 percent increase in net sales and 130 percent increase in net income for Arctic Cat's just completed fiscal year. The results beat Wall Street predictions, but Arctic Cat issued lower-than-expected profit and sales predictions for the current fiscal year.