Arctic Cat posts narrower-than-expected 1Q loss

Snowmobile and all-terrain vehicle maker Arctic Cat Inc. on Thursday reported a loss for the first fiscal quarter narrower than last year's, beating Wall Street estimates.

The company's net loss narrowed to $7 million from $7.2 million last year. The loss were share was flat at 39 cents.

Revenue rose 7 percent to $93.9 million from $87.9 million.

Analysts polled by Thomson Financial forecast, on average, a loss of 55 cents per share on revenue of $88.4 million.

The Minneapolis company benefited from the timing of shipments to dealers for snowmobiles and parts, garments and accessories, Christopher A. Twomey, the company's chairman and chief executive, said in a statement. He added that weakness in the economy and higher commodity prices will continue to hurt the company.

Arctic Cat's all-terrain vehicle sales fell 10 percent to $53.8 million compared with last year. Snowmobile sales increased 80 percent to $21.4 million due to the timing of shipments.

Shares gained 51 cents, or 6.3 percent, to $8.63 in morning trading.