Today Arctic Cat reported 3rd quarter 2015 fiscal results, including net sales of $193.7 million with net earnings of $7.5 million. This compares to $225.8/$12.1 million in the prior-year quarter.
In other words, sales are down.
The company lowered its full-year outlook and is “resetting [its] strategic priorities to deliver improved long-term performance.
Financial experts can decipher the numbers and report HERE.
The four statements that caught my eye on this report are below.
Said company CEO/President Chris Metz:
* “I can say with confidence that we will seek to spur growth through additional OEM partnerships and small bolt-on acquisitions that enable us to quickly expand our expertise and capabilities, and drive even faster product innovation.
* “My short time here has reinforced my belief that Arctic Cat is an iconic brand in a growing industry, with significant potential to improve its top- and bottom-line results.”
* The company also continued to increase investment in research and development to ensure a strong pipeline of new products and technologies.
* In early February, Arctic Cat plans to introduce a new Prowler ROV for the 2016 model year.continue reading ...