Arctic Cat (ACAT) Reports Mixed Q4 Earnings; Guides FY10 Sales Below the Street; Cuts 5% of Workforce
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Arctic Cat Inc. (Nasdaq: ACAT) reports Q4 loss of $0.83, ex-items, 6 cents better than the analyst estimate of ($0.89). Revenue for the quarter was $90.7 million, versus the consensus of $94.96 million.
Sees FY10 sales of $425-$460 million, versus the consensus of $515.83 million.
As part of the company’s efforts to reduce operating expenses and align production with anticipated product demand, Arctic Cat announced today the elimination of a total of 60 positions, or approximately 5% of its 1,200 employees. Arctic Cat does not expect to record a material charge for the workforce reduction.
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