{"id":2177,"date":"2011-01-28T12:32:00","date_gmt":"2011-01-28T12:32:00","guid":{"rendered":"https:\/\/utvguide.net\/?p=2177"},"modified":"2016-10-11T14:30:40","modified_gmt":"2016-10-11T14:30:40","slug":"arctic-cat-reports-fiscal-2011-third-quarter-results","status":"publish","type":"post","link":"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/","title":{"rendered":"Arctic Cat Reports Fiscal 2011 Third Quarter Results"},"content":{"rendered":"<div><i><b>Quarterly EPS $0.50 versus $0.14 in  prior-year quarter  on net sales growth of 16%;<\/b><\/i><br \/><i><b>Third  quarter operating profit rose  to $12.2 million from $0.6 million;<\/b><\/i><br \/><i><b>Company  again raises FY11  annual earnings guidance<\/b><\/i><\/div>\n<p><!-- start story body -->  <br \/>MINNEAPOLIS&#8211;Arctic Cat Inc. (NASDAQ:ACAT) today reported net  earnings of $9.3  million, or $0.50 per diluted share, on net sales of  $152.0 million for the  fiscal 2011 third quarter ended December 31,  2010. Arctic Cat reported net  earnings in the prior-year third quarter  of $2.6 million, or $0.14 per diluted  share, on net sales of $131.0  million.<\/p>\n<p>For the nine months ended December 31, 2010, Arctic Cat\u2019s  net earnings were  $22.6 million, or $1.22 per diluted share, on net  sales of $391.2 million. In  the first nine months of last fiscal year,  the company reported net earnings of  $11.4 million, or $0.63 per  diluted share, on net sales of $366.7 million.<br \/>Commented Arctic  Cat\u2019s president and chief executive officer Claude Jordan:  \u201cWe are very  pleased with the company\u2019s strong third-quarter and year-to-date   performance. Our results were fueled by higher sales across all product  lines,  including double-digit gains in our snowmobile business. The  combination of  increased volume, product mix, product cost-reduction  efforts, higher selling  prices and a continued focus on efficiency led  to another quarter of  significantly improved gross margins and  profitability.\u201d<\/p>\n<p>Among the highlights of Arctic Cat\u2019s 2011 third  quarter and year-to-date  financial results versus the same periods last  year:<\/p>\n<ul>\n<li>Gross margins improved 430 basis points in the  quarter  and 370 basis points year to date; <\/li>\n<li>Operating profit  for the quarter rose to $12.2 million  from $0.6 million, and year to  date increased to $32.7 million from $13.9  million; <\/li>\n<li>Factory  inventory declined 27 percent to $77.2 million  from $106.3 million; <\/li>\n<li>Total  cash and short-term investments rose to $107.1  million from $50.4  million; and <\/li>\n<li>The company has no short- or long-term debt. <\/li>\n<\/ul>\n<p>\u201cWe are excited by the traction and momentum we\u2019ve achieved year to  date,\u201d  said Jordan. \u201cWe continued to successfully execute against our  objectives to  reduce dealer and factory inventory, improve gross  margins and keep operating  expenses flat as a percent of sales.\u201d<\/p>\n<p><b>Business  Line Results<\/b><br \/>Snowmobile sales grew 33 percent to $77.8  million in the third quarter  compared to $58.7 million in the  prior-year quarter, led by increases in both  North American dealer  sales and international sales to distributors.  Year-to-date snowmobile  sales increased 15 percent to $186.5 million versus  $162.3 million in  the same period last year, led by higher international sales  to  distributors.<\/p>\n<p>All-terrain vehicle (ATV) sales rose 1 percent to  $48.6 million in the third  quarter versus $48.2 million in the  prior-year quarter, chiefly driven by sales  of the company\u2019s new  Prowler HDX heavy duty utility vehicle. During the quarter,  Arctic Cat  announced the launch of three all-new 2011 ATV models: the   full-featured, value-priced 350 4X4 automatic; the valued-priced 425 EFI  4X4  automatic; and the XC450i 4X4, a crossover model for consumers  seeking  four-wheel-drive capabilities in a sport ATV. Arctic Cat\u2019s  year-to-date ATV  sales were up 1 percent to $133.0 million compared to  $132.1 million in the  first nine months of fiscal 2010.<\/p>\n<p>Sales of  parts, garments and accessories (PG&amp;A) in the third quarter grew  6  percent to $25.6 million versus $24.2 million in the prior-year  quarter,  primarily driven by stronger garments sales including the new  Drift garment  line. Year-to-date PG&amp;A sales totaled $71.7 million,  down 1 percent from  $72.3 million in the year-ago period.<\/p>\n<p><b>Outlook<\/b><br \/>\u201cWe remain confident that the company is on track to deliver  improved  operating results, increased profitability and enhanced  shareholder value again  this fiscal year,\u201d Jordan said.<br \/>Arctic  Cat is focused on improving its profitability in a continued  low-demand  recreational vehicle market, which remains well below pre-recession   industry sales levels. The company\u2019s fiscal 2011 outlook includes the  following  assumptions: ATV industry retail sales declining  approximately 15 to 20 percent;  snowmobile industry retail sales  increasing 5 to 10 percent; Arctic Cat dealer  inventories declining 20  to 30 percent; improving gross margins between 200 to  300 basis points;  achieving flat to slightly down operating expense levels as a  percent  of sales; increasing cash flow from operations; and ending the year with   more cash on the balance sheet.<\/p>\n<p>Based on its year-to-date  results and expectations of future performance,  Arctic Cat is raising  and narrowing its estimated full-year earnings for the  current fiscal  year ending March 31, 2011. The company now anticipates that  fiscal  2011 earnings will be in the range of $0.57 to $0.65 per diluted share,   driven by increased international revenue, as well as higher gross  margins  resulting from higher volume, product mix and cost reduction  efforts. The  company\u2019s previous guidance anticipated fiscal 2011  earnings of $0.40 to $0.55  per diluted share. The company continues to  estimate fiscal 2011 net sales of  $453 million to $463 million.<\/p>\n<p><b>About  Arctic Cat<\/b><br \/>Arctic Cat Inc. designs, engineers, manufactures  and markets all-terrain  vehicles (ATVs) and snowmobiles under the  Arctic Cat\u00ae brand name, as well as  related parts, garments and  accessories. Its common stock is traded on the  Nasdaq Global Select  Market under the ticker symbol \u201cACAT.\u201d More information  about Arctic  Cat and its products is available at <a href=\"http:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.arcticcat.com&amp;esheet=6587683&amp;lan=en-US&amp;anchor=www.arcticcat.com&amp;index=2&amp;md5=d371d3a1b0dd7f015b10b2c1243c3deb\" mce_href=\"http:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.arcticcat.com&amp;esheet=6587683&amp;lan=en-US&amp;anchor=www.arcticcat.com&amp;index=2&amp;md5=d371d3a1b0dd7f015b10b2c1243c3deb\" target=\"_blank\">www.arcticcat.com<\/a>.<\/p>\n<p>Follow us at: <a href=\"http:\/\/blog.utvguide.net\/\">UTVGuide.net Blog<\/a> or on <a href=\"http:\/\/www.facebook.com\/UTVGuide\">Facebook<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quarterly EPS $0.50 versus $0.14 in  prior-year quarter  on net sales growth of 16%;Third  quarter operating profit rose  to $12.2 million from $0.6 million;Company  again raises FY11  annual earnings guidance  MINNEAPOLIS&#8211;Arctic Cat Inc. (NASDAQ:ACAT) today reported net  earnings of $9.3  million, or $0.50 per diluted share, on net sales of  $152.0 million for the  fiscal 2011 third quarter ended December 31,  2010. Arctic Cat reported net  earnings in the prior-year third quarter  of $2.6 million, or $0.14 per diluted  share, on net sales of $131.0  million.For the nine months ended December 31, 2010, Arctic Cat\u2019s  net earnings were  $22.6 million, or $1.22 per diluted share, on net  sales of $391.2 million. In  the first nine months of last fiscal year,  the company reported net earnings of  $11.4 million, or $0.63 per  diluted share, on net sales of $366.7 million.Commented Arctic  Cat\u2019s president and chief executive officer Claude Jordan:  \u201cWe are very  pleased with the company\u2019s strong third-quarter and year-to-date   performance. Our results were fueled by higher sales across all product  lines,  including double-digit gains in our snowmobile business. The  combination of  increased volume, product mix, product cost-reduction  efforts, higher selling  prices and a continued focus on efficiency led  to another quarter of  significantly improved gross margins and  profitability.\u201dAmong the highlights of Arctic Cat\u2019s 2011 third  quarter and year-to-date  financial results versus the same periods last  year:Gross margins improved 430 basis points in the  quarter  and 370 basis points year to date; Operating profit  for the quarter rose to $12.2 million  from $0.6 million, and year to  date increased to $32.7 million from $13.9  million; Factory  inventory declined 27 percent to $77.2 million  from $106.3 million; Total  cash and short-term investments rose to $107.1  million from $50.4  million; and The company has no short- or long-term debt. \u201cWe are excited by the traction and momentum we\u2019ve achieved year to  date,\u201d  said Jordan. \u201cWe continued to successfully execute against our  objectives to  reduce dealer and factory inventory, improve gross  margins and keep operating  expenses flat as a percent of sales.\u201dBusiness  Line ResultsSnowmobile sales grew 33 percent to $77.8  million in the third quarter  compared to $58.7 million in the  prior-year quarter, led by increases in both  North American dealer  sales and international sales to distributors.  Year-to-date snowmobile  sales increased 15 percent to $186.5 million versus  $162.3 million in  the same period last year, led by higher international sales  to  distributors.All-terrain vehicle (ATV) sales rose 1 percent to  $48.6 million in the third  quarter versus $48.2 million in the  prior-year quarter, chiefly driven by sales  of the company\u2019s new  Prowler HDX heavy duty utility vehicle. During the quarter,  Arctic Cat  announced the launch of three all-new 2011 ATV models: the   full-featured, value-priced 350 4X4 automatic; the valued-priced 425 EFI  4X4  automatic; and the XC450i 4X4, a crossover model for consumers  seeking  four-wheel-drive capabilities in a sport ATV. Arctic Cat\u2019s  year-to-date ATV  sales were up 1 percent to $133.0 million compared to  $132.1 million in the  first nine months of fiscal 2010.Sales of  parts, garments and accessories (PG&amp;A) in the third quarter grew  6  percent to $25.6 million versus $24.2 million in the prior-year  quarter,  primarily driven by stronger garments sales including the new  Drift garment  line. Year-to-date PG&amp;A sales totaled $71.7 million,  down 1 percent from  $72.3 million in the year-ago period.Outlook\u201cWe remain confident that the company is on track to deliver  improved  operating results, increased profitability and enhanced  shareholder value again  this fiscal year,\u201d Jordan said.Arctic  Cat is focused on improving its profitability in a continued  low-demand  recreational vehicle market, which remains well below pre-recession   industry sales levels. The company\u2019s fiscal 2011 outlook includes the  following  assumptions: ATV industry retail sales declining  approximately 15 to 20 percent;  snowmobile industry retail sales  increasing 5 to 10 percent; Arctic Cat dealer  inventories declining 20  to 30 percent; improving gross margins between 200 to  300 basis points;  achieving flat to slightly down operating expense levels as a  percent  of sales; increasing cash flow from operations; and ending the year with   more cash on the balance sheet.Based on its year-to-date  results and expectations of future performance,  Arctic Cat is raising  and narrowing its estimated full-year earnings for the  current fiscal  year ending March 31, 2011. The company now anticipates that  fiscal  2011 earnings will be in the range of $0.57 to $0.65 per diluted share,   driven by increased international revenue, as well as higher gross  margins  resulting from higher volume, product mix and cost reduction  efforts. The  company\u2019s previous guidance anticipated fiscal 2011  earnings of $0.40 to $0.55  per diluted share. The company continues to  estimate fiscal 2011 net sales of  $453 million to $463 million.About  Arctic CatArctic Cat Inc. designs, engineers, manufactures  and markets all-terrain  vehicles (ATVs) and snowmobiles under the  Arctic Cat\u00ae brand name, as well as  related parts, garments and  accessories. Its common stock is traded on the  Nasdaq Global Select  Market under the ticker symbol \u201cACAT.\u201d More information  about Arctic  Cat and its products is available at www.arcticcat.com.Follow us at: UTVGuide.net Blog or on Facebook<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"ngg_post_thumbnail":0,"footnotes":""},"categories":[1,355],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Arctic Cat Reports Fiscal 2011 Third Quarter Results - UTV Guide<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arctic Cat Reports Fiscal 2011 Third Quarter Results - UTV Guide\" \/>\n<meta property=\"og:description\" content=\"Quarterly EPS $0.50 versus $0.14 in prior-year quarter on net sales growth of 16%;Third quarter operating profit rose to $12.2 million from $0.6 million;Company again raises FY11 annual earnings guidance MINNEAPOLIS--Arctic Cat Inc. (NASDAQ:ACAT) today reported net earnings of $9.3 million, or $0.50 per diluted share, on net sales of $152.0 million for the fiscal 2011 third quarter ended December 31, 2010. Arctic Cat reported net earnings in the prior-year third quarter of $2.6 million, or $0.14 per diluted share, on net sales of $131.0 million.For the nine months ended December 31, 2010, Arctic Cat\u2019s net earnings were $22.6 million, or $1.22 per diluted share, on net sales of $391.2 million. In the first nine months of last fiscal year, the company reported net earnings of $11.4 million, or $0.63 per diluted share, on net sales of $366.7 million.Commented Arctic Cat\u2019s president and chief executive officer Claude Jordan: \u201cWe are very pleased with the company\u2019s strong third-quarter and year-to-date  performance. Our results were fueled by higher sales across all product lines, including double-digit gains in our snowmobile business. The combination of increased volume, product mix, product cost-reduction efforts, higher selling prices and a continued focus on efficiency led to another quarter of significantly improved gross margins and profitability.\u201dAmong the highlights of Arctic Cat\u2019s 2011 third quarter and year-to-date financial results versus the same periods last year:Gross margins improved 430 basis points in the quarter and 370 basis points year to date; Operating profit for the quarter rose to $12.2 million from $0.6 million, and year to date increased to $32.7 million from $13.9 million; Factory inventory declined 27 percent to $77.2 million from $106.3 million; Total cash and short-term investments rose to $107.1 million from $50.4 million; and The company has no short- or long-term debt. \u201cWe are excited by the traction and momentum we\u2019ve achieved year to date,\u201d said Jordan. \u201cWe continued to successfully execute against our objectives to reduce dealer and factory inventory, improve gross margins and keep operating expenses flat as a percent of sales.\u201dBusiness Line ResultsSnowmobile sales grew 33 percent to $77.8 million in the third quarter compared to $58.7 million in the prior-year quarter, led by increases in both North American dealer sales and international sales to distributors. Year-to-date snowmobile sales increased 15 percent to $186.5 million versus $162.3 million in the same period last year, led by higher international sales to distributors.All-terrain vehicle (ATV) sales rose 1 percent to $48.6 million in the third quarter versus $48.2 million in the prior-year quarter, chiefly driven by sales of the company\u2019s new Prowler HDX heavy duty utility vehicle. During the quarter, Arctic Cat announced the launch of three all-new 2011 ATV models: the  full-featured, value-priced 350 4X4 automatic; the valued-priced 425 EFI 4X4 automatic; and the XC450i 4X4, a crossover model for consumers seeking four-wheel-drive capabilities in a sport ATV. Arctic Cat\u2019s year-to-date ATV sales were up 1 percent to $133.0 million compared to $132.1 million in the first nine months of fiscal 2010.Sales of parts, garments and accessories (PG&amp;A) in the third quarter grew 6 percent to $25.6 million versus $24.2 million in the prior-year quarter, primarily driven by stronger garments sales including the new Drift garment line. Year-to-date PG&amp;A sales totaled $71.7 million, down 1 percent from $72.3 million in the year-ago period.Outlook\u201cWe remain confident that the company is on track to deliver improved operating results, increased profitability and enhanced shareholder value again this fiscal year,\u201d Jordan said.Arctic Cat is focused on improving its profitability in a continued low-demand recreational vehicle market, which remains well below pre-recession  industry sales levels. The company\u2019s fiscal 2011 outlook includes the following assumptions: ATV industry retail sales declining approximately 15 to 20 percent; snowmobile industry retail sales increasing 5 to 10 percent; Arctic Cat dealer inventories declining 20 to 30 percent; improving gross margins between 200 to 300 basis points; achieving flat to slightly down operating expense levels as a percent of sales; increasing cash flow from operations; and ending the year with  more cash on the balance sheet.Based on its year-to-date results and expectations of future performance, Arctic Cat is raising and narrowing its estimated full-year earnings for the current fiscal year ending March 31, 2011. The company now anticipates that fiscal 2011 earnings will be in the range of $0.57 to $0.65 per diluted share,  driven by increased international revenue, as well as higher gross margins resulting from higher volume, product mix and cost reduction efforts. The company\u2019s previous guidance anticipated fiscal 2011 earnings of $0.40 to $0.55 per diluted share. The company continues to estimate fiscal 2011 net sales of $453 million to $463 million.About Arctic CatArctic Cat Inc. designs, engineers, manufactures and markets all-terrain vehicles (ATVs) and snowmobiles under the Arctic Cat\u00ae brand name, as well as related parts, garments and accessories. Its common stock is traded on the Nasdaq Global Select Market under the ticker symbol \u201cACAT.\u201d More information about Arctic Cat and its products is available at www.arcticcat.com.Follow us at: UTVGuide.net Blog or on Facebook\" \/>\n<meta property=\"og:url\" content=\"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/\" \/>\n<meta property=\"og:site_name\" content=\"UTV Guide\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/utvguide\" \/>\n<meta property=\"article:author\" content=\"UTVGuide\" \/>\n<meta property=\"article:published_time\" content=\"2011-01-28T12:32:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-10-11T14:30:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/utvguide.net\/wp-content\/uploads\/2021\/02\/IMG_6830.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Jon Crowley\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Utvguide\" \/>\n<meta name=\"twitter:site\" content=\"@Utvguide\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jon Crowley\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/\"},\"author\":{\"name\":\"Jon Crowley\",\"@id\":\"https:\/\/utvguide.net\/#\/schema\/person\/9fa020754fb3f3e04f998489ec38f6fd\"},\"headline\":\"Arctic Cat Reports Fiscal 2011 Third Quarter Results\",\"datePublished\":\"2011-01-28T12:32:00+00:00\",\"dateModified\":\"2016-10-11T14:30:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/\"},\"wordCount\":799,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/utvguide.net\/#organization\"},\"articleSection\":[\"Industry News\",\"Textron\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/\",\"url\":\"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/\",\"name\":\"Arctic Cat Reports Fiscal 2011 Third Quarter Results - 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UTV Guide","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/","og_locale":"en_US","og_type":"article","og_title":"Arctic Cat Reports Fiscal 2011 Third Quarter Results - UTV Guide","og_description":"Quarterly EPS $0.50 versus $0.14 in prior-year quarter on net sales growth of 16%;Third quarter operating profit rose to $12.2 million from $0.6 million;Company again raises FY11 annual earnings guidance MINNEAPOLIS--Arctic Cat Inc. (NASDAQ:ACAT) today reported net earnings of $9.3 million, or $0.50 per diluted share, on net sales of $152.0 million for the fiscal 2011 third quarter ended December 31, 2010. Arctic Cat reported net earnings in the prior-year third quarter of $2.6 million, or $0.14 per diluted share, on net sales of $131.0 million.For the nine months ended December 31, 2010, Arctic Cat\u2019s net earnings were $22.6 million, or $1.22 per diluted share, on net sales of $391.2 million. In the first nine months of last fiscal year, the company reported net earnings of $11.4 million, or $0.63 per diluted share, on net sales of $366.7 million.Commented Arctic Cat\u2019s president and chief executive officer Claude Jordan: \u201cWe are very pleased with the company\u2019s strong third-quarter and year-to-date  performance. Our results were fueled by higher sales across all product lines, including double-digit gains in our snowmobile business. The combination of increased volume, product mix, product cost-reduction efforts, higher selling prices and a continued focus on efficiency led to another quarter of significantly improved gross margins and profitability.\u201dAmong the highlights of Arctic Cat\u2019s 2011 third quarter and year-to-date financial results versus the same periods last year:Gross margins improved 430 basis points in the quarter and 370 basis points year to date; Operating profit for the quarter rose to $12.2 million from $0.6 million, and year to date increased to $32.7 million from $13.9 million; Factory inventory declined 27 percent to $77.2 million from $106.3 million; Total cash and short-term investments rose to $107.1 million from $50.4 million; and The company has no short- or long-term debt. \u201cWe are excited by the traction and momentum we\u2019ve achieved year to date,\u201d said Jordan. \u201cWe continued to successfully execute against our objectives to reduce dealer and factory inventory, improve gross margins and keep operating expenses flat as a percent of sales.\u201dBusiness Line ResultsSnowmobile sales grew 33 percent to $77.8 million in the third quarter compared to $58.7 million in the prior-year quarter, led by increases in both North American dealer sales and international sales to distributors. Year-to-date snowmobile sales increased 15 percent to $186.5 million versus $162.3 million in the same period last year, led by higher international sales to distributors.All-terrain vehicle (ATV) sales rose 1 percent to $48.6 million in the third quarter versus $48.2 million in the prior-year quarter, chiefly driven by sales of the company\u2019s new Prowler HDX heavy duty utility vehicle. During the quarter, Arctic Cat announced the launch of three all-new 2011 ATV models: the  full-featured, value-priced 350 4X4 automatic; the valued-priced 425 EFI 4X4 automatic; and the XC450i 4X4, a crossover model for consumers seeking four-wheel-drive capabilities in a sport ATV. Arctic Cat\u2019s year-to-date ATV sales were up 1 percent to $133.0 million compared to $132.1 million in the first nine months of fiscal 2010.Sales of parts, garments and accessories (PG&amp;A) in the third quarter grew 6 percent to $25.6 million versus $24.2 million in the prior-year quarter, primarily driven by stronger garments sales including the new Drift garment line. Year-to-date PG&amp;A sales totaled $71.7 million, down 1 percent from $72.3 million in the year-ago period.Outlook\u201cWe remain confident that the company is on track to deliver improved operating results, increased profitability and enhanced shareholder value again this fiscal year,\u201d Jordan said.Arctic Cat is focused on improving its profitability in a continued low-demand recreational vehicle market, which remains well below pre-recession  industry sales levels. The company\u2019s fiscal 2011 outlook includes the following assumptions: ATV industry retail sales declining approximately 15 to 20 percent; snowmobile industry retail sales increasing 5 to 10 percent; Arctic Cat dealer inventories declining 20 to 30 percent; improving gross margins between 200 to 300 basis points; achieving flat to slightly down operating expense levels as a percent of sales; increasing cash flow from operations; and ending the year with  more cash on the balance sheet.Based on its year-to-date results and expectations of future performance, Arctic Cat is raising and narrowing its estimated full-year earnings for the current fiscal year ending March 31, 2011. The company now anticipates that fiscal 2011 earnings will be in the range of $0.57 to $0.65 per diluted share,  driven by increased international revenue, as well as higher gross margins resulting from higher volume, product mix and cost reduction efforts. The company\u2019s previous guidance anticipated fiscal 2011 earnings of $0.40 to $0.55 per diluted share. The company continues to estimate fiscal 2011 net sales of $453 million to $463 million.About Arctic CatArctic Cat Inc. designs, engineers, manufactures and markets all-terrain vehicles (ATVs) and snowmobiles under the Arctic Cat\u00ae brand name, as well as related parts, garments and accessories. Its common stock is traded on the Nasdaq Global Select Market under the ticker symbol \u201cACAT.\u201d More information about Arctic Cat and its products is available at www.arcticcat.com.Follow us at: UTVGuide.net Blog or on Facebook","og_url":"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/","og_site_name":"UTV Guide","article_publisher":"https:\/\/www.facebook.com\/utvguide","article_author":"UTVGuide","article_published_time":"2011-01-28T12:32:00+00:00","article_modified_time":"2016-10-11T14:30:40+00:00","og_image":[{"width":800,"height":800,"url":"https:\/\/utvguide.net\/wp-content\/uploads\/2021\/02\/IMG_6830.png","type":"image\/png"}],"author":"Jon Crowley","twitter_card":"summary_large_image","twitter_creator":"@Utvguide","twitter_site":"@Utvguide","twitter_misc":{"Written by":"Jon Crowley","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/#article","isPartOf":{"@id":"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/"},"author":{"name":"Jon Crowley","@id":"https:\/\/utvguide.net\/#\/schema\/person\/9fa020754fb3f3e04f998489ec38f6fd"},"headline":"Arctic Cat Reports Fiscal 2011 Third Quarter Results","datePublished":"2011-01-28T12:32:00+00:00","dateModified":"2016-10-11T14:30:40+00:00","mainEntityOfPage":{"@id":"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/"},"wordCount":799,"commentCount":0,"publisher":{"@id":"https:\/\/utvguide.net\/#organization"},"articleSection":["Industry News","Textron"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/","url":"https:\/\/utvguide.net\/arctic-cat-reports-fiscal-2011-third-quarter-results\/","name":"Arctic Cat Reports Fiscal 2011 Third Quarter Results - 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