BRP Rebounds Despite Lower Sales
Privately-held Bombardier Recreational Products Inc. (BRP) gained profitability in its year-ended January 31, 2006, rebounding on a favorable product mix and cost-cutting efforts.
BRP said net income for its fourth quarter ended January 31, was C$16.2 million, up from a net loss of C$23.9 million for the corresponding period ended January 31, 2005. Net income for the fiscal year ended January 31 was C$61.6 million, up from C$28.5 million for fiscal 2005.
BRP’s fourth quarter revenues were C$675.3 million, up from C$622.4 million for the same period last year. Revenues for the year ended January 31 were C$2.361 billion, down from C$2.451 billion in 2005.
BRP operates in two segments: the Powersports segment includes snowmobiles, PWC, ATVs, sport boats and Rotax engines; the Marine Engines segment includes outboard engines.
BRP’s Powersports segment fourth quarter revenues were C$580.4 million, up from C$518.9 million for the same period last year. For the fiscal year ended, Powersports segment sales were C$1.875 billion, down from C$1.935 billion last year.
Marine Engines segment fourth quarter revenues were C$109.5 million, down from C$117.9 million for the three-month period ended January 31, 2005. Marine Engines segment revenues for the recent year ended were C$540.0 million, down from C$561.1 million for fiscal 2005.
