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Arctic Cat reports decreased earnings
A planned reduction in snowmobile production and a shift in the timing of ATV shipments led to reduced first-quarter earnings for Arctic Cat.
The Thief River Falls, Minn.-manufacturer reported a 9 percent drop in first-quarter sales to $87.9 million and a net loss of $7.2 million.
“Our results were impacted by our previously announced plan to reduce snowmobile production by 30 percent this fiscal year, beginning in our first quarter,” Arctic Cat CEO Christopher Twomey said in a press release.
The company’s snowmobile revenues amounted to $11.8 million — a drop of 43 percent from the past year.
For more on Arctic Cat’s financial report, read the Aug. 13 edition of Powersports Business.
