Arctic Cat (ACAT) Misses Q1 EPS by 8c

Arctic Cat (NASDAQ: ACAT) reported Q1 EPS of ($0.08), $0.08 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $134.4 million versus the consensus estimate of $127.24 million.

Commented Christopher Metz, Arctic Cat’s president and chief executive officer: “We made continued progress in the first quarter against our stated goals to reposition the business for growth and clean up the inventory overhang. In particular, we saw encouraging trends in the company’s core North America ATV dealer inventory levels and gained further market share. We remain focused on partnering with our dealers to aggressively reduce non-current inventory and provide marketing support, enabling a return to wholesale and retail growth of new, innovative products.”

Added Metz: “During the first quarter, we implemented initiatives to fuel product innovation and growth, speed organizational change and leverage our efficiency. We are confident that we have the strategy and a talented team to execute. We remain on track with our stated long-range plan.”

The company’s key strategies under new leadership aim to: dramatically improve its dealer network; ramp up end-user focused new products; pursue OEM partnerships and bolt-on acquisitions; and create a brand marketing powerhouse.

Arctic Cat reaffirmed FY2016 guidance.

For earnings history and earnings-related data on Arctic Cat (ACAT) click here.

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