Arctic Cat 2Q Sales Up, Profits Flat
Arctic Cat Inc., Thief River Falls, Minn., reported net sales of $276.3 million for the fiscal 2006 second quarter ended September 30, 2005, up 15% compared to sales of $240.7 million during the same period last year. Net earnings for the quarter were $19.2 million, or $0.96 per diluted share, versus $19.7 million, or $0.94 per diluted share, in the prior-year period.
Arctic Cat repurchased 401,500 shares of its common stock during the second quarter as part of a $20 million share repurchase program.
Sales of Arctic Cat’s ATVs grew to $135.8 million, up 35% from $100.6 million in the prior-year second quarter; sales of Arctic Cat snowmobiles were $111.4 million, down from $112.0 million in the same period last year; and parts, garments and accessories (PG&A) sales totaled $29.0 million, up 3% compared to $28.1 million in the prior-year second quarter.
