BRP today reported sales of C$930m for its first fiscal quarter ended April 30, 2016, a 3.5% increase compared to a year ago. Net income was up C$28m to C$111m.
“Our financial results for the first quarter were delivered in line with our expectations and are consistent with our outlook,” said José Boisjoli, president and CEO, in a statement. “We had solid retail momentum worldwide in the first quarter of fiscal year 2017, where we significantly outpaced the industry.”
The company reported a sales gain of 5.8% to C$286.8m for its Seasonal Products, which includes Sea-Doo personal watercraft. The increase resulted primarily from a higher volume and a favourable mix of PWC sold and from a favourable foreign exchange rate variation of C$12m.
Its Propulsion Systems business, which includes Evinrude and Rotax, was up 8.4% to C$111.1m for the quarter. The increase in revenues was primarily attributable to a favourable foreign exchange rate variation of C$6m and a higher volume of aircraft engines sold.
The company noted that Arctic Cat won a verdict for US$15.5m against it for patent infringement. “Management believes that the verdict is unfounded and intends to file an appeal,” said the statement.