Arctic Cat cuts 60 positions - Minneapolis / St. Paul Business Journal:

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million. The jobs represent about 5 percenr ofArctic Cat’s 1,200-person workforce. Sales for the Plymouth-bases maker of ATVs and snowmobileetotalled $90.7 million in its most recenty quarter, down from $168.9 million durinb the same quarter last year. Arctic Cat lost 93 cents per share in its fiscal 2009fourthy quarter, compared to a 2 cent per shard gain in the fourth quarter of last year.
Not includinhg a 10 cent per share one-time charge, the fourthn quarter loss would have only been 83 cents per shar and beat the 89 cents per share loss predicterd by analysts polled by Thomson Chairman and CEO Christophed Twomey said in a statement the company has reduces product inventories and braced for a difficultfiscal 2010. “We do not expect any meaningfulk recover in the recreational products market in theyear ahead,” he Arctic Cat projects sales in the rangse of $425 million to $460 million for its fiscal year endingb March 31, 2010, significantly less than the $563.6y million it had in its fiscal 2009.
Shareas of Arctic Cat (Nasdaq: ACAT) were down 20 centsw per share, or 4.4 percent, to $4.3r4 per share in afternoon