Arctic Cat Q4 Loss Widens - Quick Facts

(RTTNews) - Arctic Cat Inc. (ACAT) reported that its net loss for the fiscal 2015 fourth quarter ended March 31, 2015 widened to $21.5 million, or $1.66 per share, from $1.6 million, or $0.12 per share in the prior-year quarter.

Arctic Cat's 2015 fourth-quarter adjusted net loss was $1.15 per share, excluding the previously announced charges of $0.46 per share for the planned reduction of core all-terrain vehicle or ATV dealer inventory and executive transition costs of $0.05 per share.

Quarterly net sales declined to $98.9 million from $145.4 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report a loss of $1.17 per share and revenues of $112.08 million for the quarter. Analysts' estimates typically exclude special items.

Arctic Cat also announced that its board declared a quarterly cash dividend to shareholders of $0.125 per share of common stock. The dividend is payable on or about June 12, 2015, to shareholders of record as of the close of business on May 29, 2015.

For the fiscal year ending March 31, 2016, Arctic Cat estimates full-year net sales in the range of $690 million to $705 million, assuming an unfavorable foreign currency exchange impact on sales in the range of $12 million to $15 million pre-tax. Arctic Cat expects fiscal 2016 full-year net earnings to increase and be in the range of $0.80 to $0.95 per diluted share, after reflecting unfavorable foreign currency exchange rates. Foreign currency exchange headwinds are estimated to negatively impact gross profit and reduce net earnings in the range of $0.60 to $0.70 per share, which will only partially be offset by the company's hedging strategy.

Wall Street currently is looking for fiscal year 2016 earnings of $1.73 per share on annual revenues of $733.64 million.