MN-based Arctic Cat reports $16.9M loss in fourth quarter
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Arctic Cat Inc. on Thursday reported a loss of $16.9 million in its fiscal fourth quarter.
The Plymouth, Minnesota-based company said it had a loss of $1.30 per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 86 cents per share.
The snowmobile maker posted revenue of $121.4 million in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $136.8 million.
For the year, the company reported a loss of $9.2 million, or 71 cents per share, swinging to a loss in the period. Revenue was reported as $632.9 million.
Arctic Cat expects 2017 full-year results to range from a loss of 39 cents per share to a profit of 8 cents per share, with revenue in the range of $635 million to $655 million.
Arctic Cat shares have decreased 10 percent since the beginning of the year. The stock has decreased 59 percent in the last 12 months.
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