New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 8, 2014
11:59 EDTACATArctic Cat authorizes repurchase of up to $25M of additional stock
Arctic Cat announced that its board of directors authorized a new share repurchase program for up to $25M of the company’s common stock. This is in addition to approximately $1.1M remaining under its current repurchase program. Share repurchases under this program may be made through open market and privately negotiated transactions from time to time and in such amounts as management deems appropriate.
News For ACAT From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
September 30, 2014
16:21 EDTACATArctic Cat to record charge from recall of $5.4M or 27c a share in Q215
Subscribe for More Information
16:19 EDTACATArctic Cat initiates recall of ATVs manufactured in 2008 and a portion from 2009
Arctic Cat announced that it is voluntarily recalling its all-terrain vehicles, ATVs, manufactured in 2008 and a portion of the models produced in 2009; a component in the front gear box may not meet the company’s standards. There are no confirmed reports of serious injuries traced to the front gear case. “Consumer safety is at the top of Arctic Cat’s values,” said Chairman and Chief Executive Officer Chris Twomey. “We ask ATV owners of affected models to stop riding their vehicles and to bring them to one of our dealers, so we can make the necessary repairs free of charge, and allow users to ride their ATVs again as soon as possible.” This recall affects an estimated 35,386 ATVs from the 2008 model year and 4,495 ATVs from the 2009 model year. All registered owners of the affected ATVs will be notified by direct mail. The company will record a charge of approximately $5.4M pretax-about $3.5 million after-tax, or 27c per diluted share, to cover warranty expense for the ATV repairs. Arctic Cat plans to take the non-recurring charge in the 2015 fiscal second quarter ending, September 30.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use