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Arctic Cat 2Q profit falls on lower sales
Associated Press, 10.29.09, 11:31 AM EDT
MINNEAPOLIS -- Arctic Cat Inc. said Thursday its fiscal second-quarter profit fell 13 percent as demand for its snowmobiles and all-terrain vehicles were hurt by tough economic conditions.
For the quarter ended Sept. 30, Arctic Cat earned $14.8 million, or 81 cents per share, down from $16.9 million, or 93 cents per share, in the same quarter last year.
Sales fell 19 percent to $166.3 million from $204.3 million as snowmobile and ATV sales dropped 19 percent to $137.5 million and sales of parts, garments and accessories fell 16 percent to $28.8 million.[/b]