Minneapolis, Minn.- Arctic Cat reported the highest net earnings in the company's history at $44.8 million compared to the prior-year's earnings of $36.1 million.
Net earnings for the company's 2013 fiscal third quarter, ending December 31, were $17.9 million up from $17 million in the prior-year's quarter.
The company's net sales grew 5% to $218 million versus $207 million in the same quarter last year. North American sales of Wildcat and Prowler side-by-sides and all-terrain vehicles helped to enhance profitability.
Sales of ATVs rose 28% to $69.6 million from $54.4 million in the prior-year's quarter. This increase was attributed to a strong global demand for the Wildcat side-by-sides.
Snowmobile sales for the fiscal third quarter were down 2% to $122.4 million from $125.2 million the prior-year's quarter. Year-to-date snowmobile sales were up by 5% to $269 million, and it was attributed to a growth in Canada and other international markets.
"We anticipated that this would be a tough quarterly comparison for our snowmobile sales, as we are up against strong snowmobile sales in the prior-year’s quarter. Last year, we unveiled the largest new snowmobile introduction in our company's history, with 23 all-new models representing 75% of our offerings," said Claude Jordan, Arctic Cat's chairman and chief executive officer.
Sales of parts, garments and accessories declined 5% to $26 million from $27.4 million. Year-to date sales were, also, down 2% from $78.4 million the prior year. This was attributed to lower snowmobile garment sales.
Arctic Cat said it anticipates 2013 fiscal year sales in the range of $664 million to $684 million. This would be a 13% to 17% increase from fiscal 2012.