Arctic Cat Inc. reported unaudited earnings results for the fourth quarter and year ended March 31, 2013. For the quarter, the company's total net sales were $113,231,000 against $98,487,000 a year ago. Operating loss was $8,831,000 against $9,620,000 a year ago. Loss before income taxes was $8,809,000 against $9,603,000 a year ago. Net loss was $5,075,000 or $0.38 per basic and diluted share against $6,175,000 or $0.49 per basic and diluted share a year ago. Due to the seasonality of the company's business, the company typically reports lower results in its fiscal first and fourth quarters, while the fiscal second and third quarters are historically its strongest. For the year, the company's total net sales were $671,588,000 against $585,268,000 a year ago. Operating profit was $60,714,000 against $45,890,000 a year ago. Earnings before income taxes were $60,679,000 against $45,968,000 a year ago. Net earnings were $39,745,000 or $2.89 per diluted share against $29,941,000 or $1.72 per basic and diluted share a year ago. Year-to-date capital expenditures totaled $16.3 million. For the fiscal year ending March 31, 2014, the company anticipates sales in the range of $754 million to $768 million, an increase of approximately 12% to 14% versus fiscal 2013. Assuming diluted weighted average shares in the range of 13.5 million to 13.8 million, the company estimates that fiscal 2014 earnings per diluted share will be in the range of $3.17 to $3.27, an increase of 10% to 13% compared to fiscal 2013. The company expects gross margins to decrease approximately 80 basis points due to the inclusion of sales of full-size snowmobile units to Yamaha and, to a lesser extent, the weakening of the Canadian dollar. Tax rate is expected to be 35.5%. The company expects 2014 capex to total approximately $23 million and depreciation to be around $14 million. For fiscal 2015 and beyond, the company still expects to make progress on near-term target of a 25% gross margin percentage.

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 Inc., Q4 2013 Earnings Call, May 15, 2013