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Snowmobile maker Arctic Cat Inc. (ACAT - Snapshot Report) has launched a new model in its Wildcat line of side-by-side vehicles geared to offer unmatched experience to off-road aficionados. The new model dubbed Wildcat 1000 X integrates 90-plus horsepower with novel advanced drive and handling technologies. The company will start shipping the new pure sport off-road vehicle in March 2013.
The Wildcat 1000 X is powered by a V-Twin, 4-stroke, 951cc, electronic fuel injection engine designed to provide massive torque and greater acceleration. Moreover, it features a new drive clutch, made in collaboration with Team Industries. The vehicle also uses the company’s new sway bar for stability.
The Wildcat 1000 X, which is available in Team Arctic Green and Vibrant Red Metallic colors, offers industry-leading 18-inches of rear suspension travel and 13-inches of ground clearance. The launch of this premium vehicle is in sync with Arctic Cat’s strategy to tap new growth segments with innovative product offerings.
Arctic Cat, in October 2012, logged strong second-quarter fiscal 2013 (ended September 30) results with profit surging 17% year over year riding on healthy sales from the company’s flagship snowmobiles and all-terrain vehicles (ATVs) product lines. Revenues from the ATV business shot up 19% on the back of strong customer demand for the Wildcat side-by-side vehicles. Snowmobile sales climbed 12%.
The company, during the second quarter, shipped its new 2013 model year all-terrain and recreational off-highway vehicles (ROVs). It also introduced the new Wildcat 1000 Limited side-by-side vehicle.
Arctic Cat bumped up its revenue and earnings guidance for fiscal 2013. The company raised its sales forecast for the year to a band of $664 million to $684 million (up from the earlier view of $662 million to $682 million) and earnings per share target to $2.65 to $2.75 (up from $2.55 to $2.65). The anticipated impact from the sale of Wildcat 1000 X has been factored into the guidance. The company is expected to report its third quarter results on January 24.
Arctic Cat makes snowmobiles and ATVs under the Arctic Cat moniker and supplies related parts, garments, and accessories. The company, which competes with Honda Motor Co., Ltd (HMC - Analyst Report) and Polaris Industries, Inc. (PII - Snapshot Report), operates through a network of independent dealers in the U.S., Canada and Europe.
Arctic Cat currently holds a short-term (1 to 3 months) Zacks Rank #4 (Sell).
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