Arctic Cat Q3 Profit Declines, Cuts 2015 Outlook - Quick Facts

(RTTNews) - All-terrain vehicles maker Arctic Cat, Inc. (ACAT) reported that third-quarter net earnings declined to $7.5 million or $0.57 per share from $12.1 million or $0.89 per share in the prior-year quarter.

Arctic Cat's adjusted earnings totaled $0.68 per share, excluding executive transition costs of $0.11 per share.

On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $0.48 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter decreased 14 percent to $193.74 million from $225.79 million in the same quarter last year. Analysts expected revenues of $198.06 million.

Gross profit margin improved 20 basis points to 18.0 percent from 17.8 percent in the prior-year quarter, primarily due to improved product mix.

The company said it is lowering fiscal 2015 full-year outlook for net sales and earnings. It now expects net earnings in a range of $0.36 to $0.44 per share and adjusted earnings in the range of $1.24 to $1.32 per share, on projected net sales between $705 million and $715 million.

Street is currently looking for full-year 2015 earnings of $1.97 per share on net sales of $748.03 million.

Previously, Arctic Cat anticipated full-year net earnings of $1.55 to $1.65 per share on net sales in the range of $745 million to $755 million.