Arctic Cat Surging on Q3 Results, Guidance

Shares of Arctic Cat

are seeing much strength during Thursday's trading session after the company reported third quarter results which thrilled investors. Arctic Cat reported third quarter earnings of $0.92 per share on revenues of $207 million. The Street was expecting earnings per share of $0.59 on revenues of $181.8 million. Commenting on the positive results, CEO Claude Jordan said, “We are very pleased with the company's strong third-quarter and year-to-date performance. Arctic Cat continued to execute well during the quarter, producing double-digit sales and earnings gains." He continued, “Our focus on introducing innovative products and technologies, such as our extensive new snowmobile line-up and the Wildcat sport side-by-side, contributed to the strong third-quarter results and helped generate increased sales across all product lines.” Arctic Cat expects higher snowmobile retail sales in fiscal 2012, due to its new model line-up. The company also anticipates continued gains in its ROV business, fueled by the competitive strength of the Prowler side-by-side offerings and the growth potential for the Wildcat pure-sport ROV model. Additionally, the company remains focused on further enhancing profitability through operational efficiencies. Currently, shares of Arctic Cat are trading over 22% higher at $29.31.