Arctic Cat Q1 Profit Rises; Lifts FY EPS View

(RTTNews) - Arctic Cat Inc. (ACAT) reported that net earnings for the fiscal first quarter ended June 30, 2013 rose to $5.5 million, or $0.40 per share, from $2.0 million, or $0.14 per share, in the prior-year quarter.

Net sales for the fiscal 2014 first quarter grew approximately 9 percent to $120.8 million versus net sales of $111.3 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.21 per share and revenues of $126.31 million for the quarter. Analysts' estimates typically exclude special items.

For the fiscal year ending March 31, 2014, the company increased its earnings guidance and now expects earnings to be in the range of $3.27 to $3.37 per share, an increase of 13 percent to 17 percent over prior-year earnings of $2.89 per share. Previously, the company estimated fiscal 2014 full-year earnings in the range of $3.17 to $3.27 per share.

The company continues to anticipate sales for fiscal 2014 in the range of $754 million to $768 million, an increase of approximately 12 percent to 14 percent versus fiscal 2013.

Analysts expect the company to report earnings of $3.24 per share and revenues of $755.69 million for fiscal 2014.