Arctic Cat Pioneer Dies

Lowell Theodore Swenson, 86, passes away, as reported by the Bemidji Pioneer. In 1965, Lowell put everything he owned on the line and bought the fledgling snowmobile company Arctic Enterprises. Under his leadership as Chairman, President, and CEO, Arctic Cat became a publicly-held, worldwide leader in the growing snowmobile industry. He sold his controlling interest in the original company in 1978 and later came back as an investor and served as chairman for several years of the present day Arctic Cat.

Arctic Cat Names New COO

Snowmobile and all-terrain vehicle maker Arctic Cat Inc. said Monday it named Claude J. Jordan president and chief operating officer effective immediately.

Jordan, 52, was most recently a vice president of Home Depot Inc. and president of its At-Home Services business, Arctic Cat said. Before that, he was president and chief executive of General Electric Co.’s water technologies unit. Jordan reports to Christopher Twomey, Arctic Cat’s chairman and chief executive officer.

Canadian Snowmobiles & Trains in Russia?

At the ACSA NEC meeting we discussed how the Russian snowmobile market is expanding and that they are expected to join us at ISC in 2009. An article at Canada.com reveals that Canada’s Bombardier is investigating the Russian rail system.

The Russian transit market is of growing importance to Bombardier, but Laurent Beaudoin, chairman of the board, Bombardier Inc. would not confirm Russian reports that Bombardier is considering closer links with Transmashholding, including cross-share holding.

The story also has a brief, but interesting biography of Laurent Beaudoin.

Arctic Cat Posts a Surprise Profit as ATV Sales Weaken

May 15 (Full Reuters story) – All-terrain vehicle and snowmobile maker Arctic Cat Inc posted a surprise fourth-quarter profit and forecast 2009 earnings above analysts’ estimates, sending its shares up as much as 14 percent in early morning trade.

The company, which also makes related parts, garments and accessories, reported net income of $424,000, or 2 cents a share, compared with a net loss of $1.6 million, or 8 cents a share, a year earlier.

Net sales for the quarter ended March 31 were $168.9 million, down about 2 percent from $172.6 million a year ago.

The company said fourth-quarter earnings were hurt by a weak retail environment for all-terrain vehicles (ATV), the reduction of a planned, large multi-store retail customer order, and an ATV parts supply issue.