Arctic Cat slides on lowered Q4 guidance
Shares of Arctic Cat Inc. (Nasdaq:ACAT) are getting trounced this morning after the snowmobiles and all-terrain vehicles retailer said after Tuesday’s close that it lowered its sales and earnings outlook for its fiscal 2008 fourth quarter due to lower than anticipated all-terrain vehicles sales, stemming from continued weak retail sales, a reduction of a planned, large retail customer order and a parts supply issue.
Shares cascaded 11.8%, or $0.87, to $6.50 in pre-market trading. For detailed price information and recent news stories about Arctic Cat, click ACAT.
