Arctic Cat Inc. /quotes/comstock/15*!acat/quotes/nls/acat (ACAT 13.86, +1.47, +11.86%) today reported net earnings of $17.8 million, or $0.97 per diluted share, on net sales of $175.8 million for the fiscal 2011 second quarter ended September 30, 2010. Arctic Cat reported net earnings in the prior-year second quarter of $14.8 million, or $0.81 per diluted share, on net sales of $166.3 million.
For the six months ended September 30, 2010, Arctic Cat’s net earnings were $13.3 million, or $0.72 per diluted share, on net sales of $239.2 million. In the first six months of last fiscal year, the company reported net earnings of $8.8 million, or $0.48 per diluted share, on net sales of $235.7 million.
Commented Arctic Cat’s chairman and chief executive officer Christopher A. Twomey: "We are very pleased to report double-digit earnings gains on increased snowmobile and all-terrain vehicle sales in the second quarter. We made further progress on our goal to improve the company’s profitability and strengthen the balance sheet."
Among the highlights of Arctic Cat’s 2011 second quarter financial results versus the same quarter last year:
