Arctic Cat 2Q results
Due to continued tough economic conditions, Arctic Cat’s retail sales are down in every category, including snowmobile, ATV and PG&A. However, the company has reduced its operating expenses and inventories, Arctic Cat reported.
Net sales were $166.3 million in the second quarter, which ended Sept. 30. That’s down from $204.3 million during the prior year period.
The first half of its fiscal year, the company also saw declines, with net sales of $235.7 million. In the first six months of last year, its net sales were $298.2 million.
The company has reduced its operating expenses 12 percent during the second quarter, which is down 17 percent for the year. Operating profit rose 7 percent to $21.9 million from $20.5 million during last year’s second quarter. Inventories were reduced 23 percent to $133.6 million from $172.3 million.
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