Arctic Cat rises 10% on narrower-than-expected Q1 loss
Arctic Cat Inc. (Nasdaq:ACAT) has gained 10% today after reporting a narrower-than-expected first quarter loss. For the quarter ended June 30, net loss was $6.96 million, or $0.39 per share, compared with a net loss of $7.16 million, or $0.39 a share, for the same period a year earlier. Revenue for the snowmobile and all-terrain vehicle manufacturer was $93.9 million, up 7% from the year-ago quarter. Wall Street was expecting a net loss of $0.55 per share on revenues of $88.4 million.
In today’s trading the Thief River Falls, Minn.-based company’s shares are at $8.93 at 3:14 p.m. ET, up $0.81 from Wednesday’s close.
For detailed price information and recent news stories about Arctic Cat Inc., click ACAT.
