Artic Cat reports Q2 earnings above estimates
Arctic Cat Inc. (Nasdaq: ACAT), a manufacturer and marketer of snowmobiles and all-terrain vehicles, this morning reported fiscal 2008 second-quarter earnings above Wall Street’s estimates.
For the three months ended Sept. 30, 2007, the Thief River Falls, Minn.-based firm recorded net earnings of $13.9 million, or $0.76 per diluted share, above the $0.56 per share estimate five analysts surveyed by Thomson Financial were on average anticipating. This compares with $20.0 million, or $1.03 per diluted share, earned for the second quarter of 2007.
Net sales were $205.2 million, while four analysts polled by Thomson Financial were expecting sales of $207.96 million on average. Sales for the same period last year were $285.3 million.
Shares of Arctic Cat (ACAT) were halted in pre-market trading.
