Key Developments: Arctic Cat Inc (ACAT.O)
46.92USD
17 May 2013
$1.25 (+2.74%)
$45.67
$45.83
$46.94
$45.68
169,830
229,306
$48.84
$31.42
Latest Key Developments (Source: Significant Developments)
Arctic Cat Inc Issues FY 2014 EPS Guidance; Revenue Guidance Above Analysts' Estimates
Arctic Cat Inc announced that for fiscal 2014, it expects sales in the range of $754 million to $768 million and earnings per diluted share will be in the range of $3.17 to $3.27. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $736 million and EPS of $3.25 for fiscal 2014. Full Article
Arctic Cat Inc Announces Dividend Reinstatement And Share Repurchase Program
Arctic Cat Inc announced that its Board of Directors approved the reinstatement of a quarterly cash dividend to shareholders. The board has declared a regular quarterly cash dividend of 10 cents per share of common stock. The dividend is payable on or about June 14, 2013, to shareholders of record as of the close of business on May 31, 2013. Arctic Cat`s board of directors also authorized a share repurchase program of up to $30 million of the Company`s common stock. Share repurchases under this program may be made through open market and privately negotiated transactions from time to time and in such amounts as management deems appropriate. The timing of share repurchases will depend on market conditions and other corporate considerations. Full Article
Arctic Cat Inc Announces Engine And Co-Brand Agreements With Yamaha Motor Corporation
Arctic Cat Inc announced that it has entered into an engine supply agreement with Yamaha Motor Corporation, expanding Arctic Cat's purchase of Yamaha snowmobile engines starting in the 2014 model year. Arctic Cat initially entered into an agreement to purchase Yamaha 123cc 4-stroke engines for youth snowmobile in 2009. This agreement has been expanded to include select 4-stroke engines from Yamaha. In addition to expanding the engine supply agreement with Yamaha, Arctic Cat also has expanded a co-branding agreement to build select Yamaha snowmobiles in Arctic Cat's Thief River Falls, Minn., factory according to Yamaha's specifications. This agreement began in 2012, with Arctic Cat building the Yamaha SRX 120 youth model snowmobile, and will include full-size performance snowmobiles starting with model year 2014. These snowmobiles will be built to Yamaha specifications using Yamaha 4-stroke engines. Full Article
Arctic Cat Inc Raises FY 2013 Earnings Guidance; Reaffirms FY 2013 Revenue Guidance
Arctic Cat Inc announced that for fiscal 2013, it now estimates earnings per diluted share will be in the range of $2.75 to $2.85, compared to previous estimated earnings of $2.65 to $2.75 per diluted share. The Company continues to anticipate sales for fiscal 2013 in the range of $664-$684 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $678 million and EPS of $3.35 for fiscal 2013. Full Article
Arctic Cat Inc Announces Board Changes
Arctic Cat Inc announced that Joseph Puishys and Stan Askren have joined the Company`s board of directors. In addition, the board elected current Chief Executive Officer Claude Jordan as the Company`s board Chairman. Former Chairman Christopher Twomey remains a director. Full Article
Arctic Cat Inc Raises FY 2013 Guidance
Arctic Cat Inc announced that for fiscal 2013, it has raised sales guidance to a range of $664 million to $684 million, earnings per diluted share (EPS) will be in the range of $2.65 to $2.75. Previously, the Company estimated fiscal 2013 earnings per diluted share of $2.55 to $2.65 on sales of $662 million to $682 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $683 million and EPS of $2.86 for fiscal 2013. Full Article
Arctic Cat Inc. Raises FY 2013 Guidance
Arctic Cat Inc. announced that for fiscal 2013, it is raising its sales guidance to a range of $662 million to $682 million. Assuming diluted weighted average shares of 14 million, the Company now estimates that fiscal 2013 earnings per diluted share (EPS) will be in the range of $2.55 to $2.65. Previously, the Company estimated fiscal 2013 earnings per diluted share of $2.40 to $2.50 on sales of $631 million to $650 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $666 million for fiscal 2013. Full Article
Arctic Cat Inc. Issues FY 2013 Guidance
Arctic Cat Inc. announced that for fiscal 2013, it expects sales in the range of $631-$650 million, earnings per diluted share (EPS) will be in the range of $2.40 to $2.50. Full Article
Arctic Cat Inc. Raises FY 2012 Guidance
Arctic Cat Inc. raised fiscal 2012 guidance and expects sales in the range of $568-$575 million, an increase of 22% to 24% compared to fiscal 2011. The Company expects that fiscal 2012 earnings per diluted share (EPS) to be in the range of $1.60 to $1.70, an increase of 129% to 143%. Previously, the Company expected fiscal 2012 sales in the range of $530 million to $545 million and earnings in the range of $1.10 to $1.15 per diluted share. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $544 million and EPS of $1.22 for fiscal 2012. Full Article
Arctic Cat Inc. Announces Cash Buyback Of 6.1 Million Class B Shares From Suzuki Motor Corporation
Arctic Cat Inc. announced that it has purchased all of Suzuki Motor Corporation’s approximately 6.1 million shares of Arctic Cat Class B common stock for a purchase price of $79.3 million. The stock buyback reduces Arctic Cat’s outstanding shares from 18.4 million to 12.3 million, increasing non-Suzuki shareholders’ ownership of outstanding common shares by approximately 33%, and leaves Arctic Cat’s public share float unchanged. Arctic Cat funded this purchase with existing cash on its balance sheet. The Company expects to end its 2012 fiscal year with more than $60 million in cash and no debt, after deducting cash used for the share purchase from Suzuki. As previously announced on June 10, 2010, Suzuki will supply snowmobile engines to Arctic Cat through the 2014 model year, as well as engine parts to service existing engines. Arctic Cat will move snowmobile engine manufacturing to its St. Cloud, Minn., facility, where the company has manufactured ATV engines since 2007. Full Article
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