Today Arctic Cat released its 2016 fiscal 4th QTR and full-year results. When I read between the lines, it looks to me like the cost of reducing inventory of non-current wheeled products must cost A LOT.
* Fourth-quarter net sales of $121.4 million, up 22.7 percent over prior-year quarter;
* Quarterly net loss of $1.30 per share versus prior-year loss of $1.66 per share;
* Continued progress made on strategies to reposition company;
* Approximately $20 million operating cash flow generated in fiscal 2016 fourth quarter;
* Revolving bank agreement extended and increased to $130 million, up from $100 million;
* Fiscal 2016 full-year net loss of $0.71 per share on net sales of $632.9 million;
* Company provides fiscal 2017 outlook
Click to read the full results.