BRP today reported sales of C$856m for its second quarter of 2017, a 5% increase compared to a year ago. The company reported a net loss of C$69m for the quarter. BRP recorded a C$43m expense during the quarter after a US court awarded its competitor, Arctic Cat, US$15.5m in a patent infringement lawsuit.
BRP’s Seasonal Products division, which includes its Sea-Doo personal watercraft, reported sales of C$280.5m, up C$17.1m compared to a year ago. The company said a higher volume and favorable mix of PWC led to the sales gain, along with a favorable foreign exchange rate variation of C$6m. That was partly offset by an unfavorable mix of Ski-Doo snowmobiles sold.
Its Propulsion Systems division saw its sales rise by 4.7% to C$99.9m for the quarter, thanks to a favorable exchange rate of C$3.0m.
Its Year-Round products sales increased by 9.3% for the quarter, while its Parts and Accessories business reported a 3.6% decrease in sales to C$149.4m.
"I am pleased with the second quarter of fiscal 2017 that has registered strong retail sales worldwide, particularly for Sea-Doo PWC and Can-Am off-road vehicles," said José Boisjoli, president and CEO, in a statement. "We have good momentum with the Can-Am Defender models, introduced last September, and with the positive reception of the most recent product launches, such as the Evinrude E-TEC G2 engines or the Can-Am Maverick X3 vehicle."
During the quarter, BRP refinanced its US$792m term facility and C$350m revolving credit facility, resulting in an amended and restated US$700m term facility and C$425m revolving credit facility.