UPDATE 1-Arctic Cat Q3 beats, raises FY EPS outlook
* Q3 EPS $0.50 vs est $0.14
* Q3 rev $152 mln vs est $136.8 mln
* Ups 2011 EPS view to $0.57-0.65 vs est $0.51
* Shares rise 18 pct
Jan 27 (Reuters) - Arctic Cat Inc (ACAT.O), which makes all-terrain vehicles (ATVs) and snowmobiles, posted better-than-expected quarterly results on higher margins and raised its 2011 earnings outlook citing increased international revenue and higher gross margins.
The company expects 2011 earnings of $0.57-0.65 a share, up from prior estimates of $0.40-$0.55.
Analysts were looking for earnings of 51 cents a share, according to Thomson Reuters I/B/E/S.
For the third quarter, the company, which competes with Honda Motor Co (7267.T) and Polaris Industries Inc (PII.N), earned 50 cents a share, beating analysts' average estimates of 14 cents a share.
Sales rose 16 percent to $152 million.
Gross margins improved to 6 percent in the latest third quarter from 2 percent a year ago.
Shares of the Minneapolis-based company were up 16 percent at $16 Thursday morning on the New York Stock Exchange. They have gained about 10 percent in value since the company raised its FY outlook in October. (Reporting by Divya Sharma in Bangalore; Editing by Don Sebastian) ((email@example.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: firstname.lastname@example.org))
- U.S. Mega Millions lottery up to $400 million, 2nd-biggest ever
- Pope Francis named Time's Person of the Year |
- Uruguay becomes first country to legalize marijuana trade
- Thousands of South Africans line up to see Mandela lie in state |
- Atheists face death in 13 countries, global discrimination: study