Arctic Cat higher, swings to fiscal Q4 profit on cost cutting
Shares of Arctic Cat Inc. (Nasdaq:ACAT) are advancing swiftly ahead of the opening bell after the maker of snowmobiles and all-terrain vehicles said this morning that it swung to a profit in its fiscal fourth quarter due to streamlining costs which offset weaker consumer demand. Analysts were expecting a net loss.
Shares jumped 18%, or $1.35, to $8.85 in pre-market trading. For detailed price information and recent news stories about Arctic Cat, click ACAT.
About the Author
Reporter Jennifer Schonberger is based in SmallCapInvestor.com's Washington, D.C. bureau.
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