Arctic Cat Inc. records loss, beats estimates for FY08 Q1
Arctic Cat Inc. (Nasdaq:ACAT), which manufactures and markets snowmobiles and all-terrain vehicles, today reported a net loss for the first fiscal quarter of 2008, but beat analyst estimates.
For the first three months ended June 30, the Thief River Falls, Minn.-based company recorded a net loss of $7.2 million, or $0.39 per diluted share, compared with a net loss of $4.5 million, or $0.23 per diluted share, in the first quarter of 2007. Four analysts polled by Thomson Financial were expecting a loss of $0.42 per share for the second quarter.
Arctic Cat booked net sales of $87.9 million for the fiscal 2008 first quarter, compared with net sales of $96.4 million for the same period last year.
Shares of Arctic Cat climbed out of the gate Wednesday 6.9%, or $1.28, to $19.71.
