Skip to main content
Updated:
Original:

Arctic Cat's profit climbs 5%, driven by ATV sales

Author:

Arctic Cat Inc. posted record net earnings of $17.9 million, up 5 percent from $17 million during its fiscal third-quarter last year, according to a company news release. The Thief River Falls, Minn.-based snowmobile and all-terrain vehicles maker said strong sales of its side-by-side all-terrain vehicles helped drive the increase.

“We are very pleased to report record earnings per share and increased sales in our third quarter, compared to a strong prior-year quarter of double-digit sales and earnings gains,” Claude Jordan, Arctic Cat’s new chairman and chief executive officer, said in a statement. “The company’s results are in line with our expectations for continued top- and bottom-line growth. During the fiscal third quarter, we made further progress on our growth strategy to enter new market segments by introducing two new Wildcat™ pure sport side-by-sides that will begin shipping during the fiscal fourth quarter."

Arctic Cat expects fiscal 2013 earnings per share to be in the range of $2.75 to $2.85, an increase of 60 percent to 66 percent compared to fiscal 2012, the Business Journal reports.

Next Up

940 Margaret St, St Paul, MN 55106, United States - May 2019 (1)

4-year-old girl struck by hit-and-run driver in St. Paul

The girl was struck by the driver around 5 p.m. Monday.

Minneapolis police

Baby found safe inside car that was stolen in south Minneapolis

The incident happened near 32nd Street and Chicago Avenue around 7 p.m.

Anthony Edwards

Ant puts on a show to help Timberwolves beat Pacers

A third-quarter surge gave the Timberwolves their seventh win in their past eight games.

Mikko Koivu

Wild to retire Mikko Koivu's No. 9 jersey

Koivu will be the first player in franchise history to have his number retired.

Boebert-Omar - Flickr Gage Skidmore

Rep. Boebert refuses to apologize for Islamophobic comment toward Rep. Omar

A phone call Monday between the two lawmakers ended abruptly.

Patrick Peterson

Vikings place Patrick Peterson on COVID-19/reserve list

The Vikings cornerback said he was vaccinated in August.

flickr - thin ice warning - USFWS Midwest

'Numerous' reports of eager anglers falling through ice

Conditions are still unpredictable, and can vary even across a single body of water.

covid

Minnesota health officials watching closely for omicron variant

Health leaders do not yet know how transmissible or severe the new variant is.

school bus stop pixabay

School bus driver charged in fatal hit-and-run will plead guilty

Another motorist told the driver to call 911, but he instead got on the bus and drove off, charges say.

Franconia Sculpture Park - Lorie Shaull - Flickr

5 outdoor destinations to explore around the Twin Cities

There's something for everyone on this list of overlooked spots.

Child mental health counseling

As pandemic continues, so do efforts to improve child mental health access

Children's Minnesota has announced it will open its first inpatient mental health facility for under 18s.

Dalvin Cook

Mixed reports on Dalvin Cook's injury status

The Vikings running back could miss two games...or he could play Sunday.

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.

Arctic Cat recalling 1,400 ATVs

The Thief River Falls company is recalling the vehicles because the steering tie-rod can bend, potentially causing the driver to lose control. ATVs included in the recall have been sold at dealerships since February this year. The company is notifying registered owners.