Arctic Cat net earnings rise

Arctic Cat Inc. in May reported net earnings for the fiscal year ended March 31 rose 130 percent to $29.9 million, or $1.72 per diluted share, up from prior-year net earnings of $13.0 million, or $0.70 per diluted share. Arctic Cat’s net sales for the fiscal 2012 full year grew 26 percent to $585.3 million versus net sales of $464.7 million last fiscal year.

“We are very pleased with the company’s continued strong sales and earnings performance in fiscal 2012,” said Claude Jordan, Arctic Cat’s president and CEO. “Sales rose across all product lines for the full year. Double-digit gains in our snowmobile and all-terrain vehicle segments were fueled by the introduction of innovative products and technologies, such as our extensive new snowmobile lineup and the Wildcat sport side-by-side. Higher sales volumes, coupled with our focus on operational excellence and cost control, led to another year of outstanding financial results.”

For the fiscal 2012 fourth quarter ended March 31, Arctic Cat reported an improved net loss of $6.2 million, or a loss of $0.49 per diluted share, on 34 percent net sales growth to $98.5 million. In the prior-year fourth quarter, Arctic Cat reported a net loss of $9.6 million, or a loss of $0.52 per diluted share, on net sales of $73.5 million.