Arctic Cat Inc. posted a nearly 30 percent revenue decrease for its fiscal 2008 second quarter, which ended Sept. 30, the company recently reported.
The company’s net sales were $205.2 million for the quarter, down from $285.3 million in the same period last year. Net earnings for the quarter were $13.9 million versus $20 million a year ago.
For the six months ended Sept. 30, net sales were $293.1 million compared with $381.7 million in the first six months of last fiscal year. Net earnings were $6.8 million versus net earnings of $15.4 million in the prior-year first half.
Arctic Cat reported ATV sales were down by more than half for the second quarter, from $133.8 million in 2007 to $77.5 million in the 2008 second quarter. ATV sales in the six months totaled $137.3 million compared with $194 million in the prior-year six months. ATV sales were affected by previously announced lower production levels and a shift in shipments to future quarters when the company’s new models will be available.
For more on Arctic’s financial report, see the Nov. 12 edition of Powersports Business.Click here for reuse options!
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