Big news!! Textron buys cat!!!!

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Banks93

New member
super_b said:
My guess is they were carrying a heavy amount of debt.
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Arctic Cat’s fiscal 2016 fourth-quarter net sales of $121.4 million rose 22.7 percent compared to prior-year sales of $98.9 million. Unfavorable foreign currency exchange reduced net sales by approximately 2.0 percent. Contributing to increased year-over-year sales were new 2017 early-year model ATV/ROV product shipments to dealers. At the same time, Arctic Cat succeeded in decreasing total inventory by $12.4 million, or 8.2 percent, versus the prior-year quarter, despite a softer marketplace and the lack of snow to spur snowmobile sales.

Gross profit in the fiscal 2016 fourth quarter was essentially flat compared to the prior-year quarter, chiefly due to increased sales volumes, improved absorption and manufacturing productivity, partially offset by unfavorable foreign currency exchange impact. Unfavorable foreign currency exchange rates reduced gross profit by approximately $2.4 million, or $0.11 per share. Operating loss in the fiscal 2016 fourth quarter was $27.5 million versus an operating loss of $29.0 million in the same quarter last year.

Arctic Cat ended the fiscal 2016 fourth quarter with cash and cash equivalents totaling $17.7 million at March 31, 2016, compared to $40.3 million a year ago, and no long-term debt. The company continued to make investments in the business to lay the foundation for future growth and to improve efficiency.
 
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ridindirty800

Active member
Skylar said:
My 16M is financed through cat, the finance company is called Sheffied Financial.

As far as if Textron will ruin cat, hope not, but I'm not brand loyal so it really doesn't matter to me.
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I almost feel like my last Ski Doo was through Sheffied as well but can't remember?? I guess I need to buy a new one to find out
 
1

1fujifilm

Well-known member
Banks93 said:
Arctic Cat’s fiscal 2016 fourth-quarter net sales of $121.4 million rose 22.7 percent compared to prior-year sales of $98.9 million. Unfavorable foreign currency exchange reduced net sales by approximately 2.0 percent. Contributing to increased year-over-year sales were new 2017 early-year model ATV/ROV product shipments to dealers. At the same time, Arctic Cat succeeded in decreasing total inventory by $12.4 million, or 8.2 percent, versus the prior-year quarter, despite a softer marketplace and the lack of snow to spur snowmobile sales.

Gross profit in the fiscal 2016 fourth quarter was essentially flat compared to the prior-year quarter, chiefly due to increased sales volumes, improved absorption and manufacturing productivity, partially offset by unfavorable foreign currency exchange impact. Unfavorable foreign currency exchange rates reduced gross profit by approximately $2.4 million, or $0.11 per share. Operating loss in the fiscal 2016 fourth quarter was $27.5 million versus an operating loss of $29.0 million in the same quarter last year.

Arctic Cat ended the fiscal 2016 fourth quarter with cash and cash equivalents totaling $17.7 million at March 31, 2016, compared to $40.3 million a year ago, and no long-term debt. The company continued to make investments in the business to lay the foundation for future growth and to improve efficiency.
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Ken's in Little Chute, WI must have sold all of the old stock A/C ATV, UTV and sleds they had accumulated since 2012...

Bear
 
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Banks93

New member
1fujifilm said:
Ken's in Little Chute, WI must have sold all of the old stock A/C ATV, UTV and sleds they had accumulated since 2012...

Bear
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Yes, or they got it all paid off in an insurance claim for the wind damage.

I think it could be a good buy for them if they do not gut it. The largest market is ATV and S x S and with a quality product they could really dig into Polaris, Yamaha and Can Am market share.

If someone with half a brain comes in to run it and lets Arctic Cat know you don't need 30 different sleds and options. Maybe 15 I think they could make more money and a better product.
 
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scott_l

Member
in a situation like this you think the employees found out first and got some general info, or did they find out like us today when it in the old internet?

My family has always been a diehard cat family, It will be interesting to watch
 
J

journeyman

New member
whitedust said:
AC as a complete company does not have much for Yamaha that they don't already have. Textron had to buy into any OEM agreements AC has on the books BUT could have a different view in the future. Any Yamaha rep I talked to always said 5 years and over but the Viper & Sidewinder releases seemed to tell a different story. Yamaha 2018 release will tell us a lot if they are just an engine OEM or have their own new products. My view is I have no freaking idea??!! LOL....:) Both Yamaha and AC will have public statements soon that we all can interpret in our own way.lol
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This was posted on TY by a member over there (in relation to Yamaha buying them) : a direct competitor purchase was likely to have been voted down by the board. Not to mention diversification is the name of the game right now, so why would a competitor want them. Plus, regulatory issues if the feds didn't want less competition.

​Lots of speculation at this point I guess.
 
1

1fujifilm

Well-known member
ridindirty800 said:
I almost feel like my last Ski Doo was through Sheffied as well but can't remember?? I guess I need to buy a new one to find out
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Sheffield appears to be unrelated to Textron and is a subsidiary of "BB&T" (Branch Banking and Trust Company).
Ski-Doo does use Sheffield to fund their customers as I recently did it in December.

As an FYI; you can apply for a loan online directly from Sheffield and get a loan number, then take that number to your Dealer and walk out with your sled etc. I was able to get a zero percent loan from Sheffield that converts to a rate of 9.9% if not paid in 6 months (ideal for those of us that buy new sleds every year) online in 15 minutes, way better than a bank/C.U..

Bear

Bear
 
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shelby369

New member
1fujifilm said:
Sheffield appears to be unrelated to Textron and is a subsidiary of "BB&T" (Branch Banking and Trust Company).
Ski-Doo does use Sheffield to fund their customers as I recently did it in December.

As an FYI; you can apply for a loan online directly from Sheffield and get a loan number, then take that number to your Dealer and walk out with your sled etc. I was able to get a zero percent loan from Sheffield that converts to a rate of 9.9% if not paid in 6 months (ideal for those of us that buy new sleds every year) online in 15 minutes, way better than a bank/C.U..

Bear

Bear
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Textron was the financer of the Cat dealers floor plan (new sleds) Scheffield is a retail financer of new sleds to the consumer ..........totally two different animals.
 
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sweeperguy

Active member
ridindirty800 said:
I almost feel like my last Ski Doo was through Sheffied as well but can't remember?? I guess I need to buy a new one to find out
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Skylar said:
My 16M is financed through cat, the finance company is called Sheffied Financial.

As far as if Textron will ruin cat, hope not, but I'm not brand loyal so it really doesn't matter to me.
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My last 2 Polaris financed (balance of purchase, 75% cash payment) through Sheffield. IQ, I bought PA. and RMK I bought in MN. (Dealer financed) So they must be major financer of motorsports purchases. Retail consumer.
 
Wong

Wong

Member
I have been in contact with couple friends of mine today that work at Cat in Thief River Falls. They are very optimistic about the buy out and they report the general consensus is this is a big positive for Arctic Cat. There info so far is Cat will take over producing all of the Bad Boy line.
 
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slimcake

Active member
So will bad boy be no more and will just be cat????? I was supposed to get access to selling the bad boy buggies with New Holland badging and wondering if that is still going to happen???
 
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kip

Well-known member
That's too early to say Matt, we'll see in time. I have a good friend that works at Textron and he still doesn't have a clear handle on what the game plan is yet.
 
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old abe

Well-known member
Wong said:
I have been in contact with couple friends of mine today that work at Cat in Thief River Falls. They are very optimistic about the buy out and they report the general consensus is this is a big positive for Arctic Cat. There info so far is Cat will take over producing all of the Bad Boy line.
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Well if they are in this for the long haul, it's probably not good for Yami. One less to compete with?????????
 
F

frnash

Active member
fishcrib said:
They won't need the yami engines, they can put their own jet engine on the sleds. They will fly..lol
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Yes indeedy, they can just slap a belt and some skis on this:
N416CM.jpg
That'll work. :onthego:

The Model 510 Mustang is approved for single-pilot operation.

General characteristics

  • Crew: one or two pilots
  • Capacity: 4 to 5 passengers
  • Length: 40 feet 7 inches
  • Wingspan: 43 feet 2 inches
  • Height: 13 feet 5 inches
  • Empty weight: 5600 lb
  • Useful load: 3130 lb
  • Max. takeoff weight: 8645 lb
  • Powerplant: 2 × Pratt & Whitney Canada PW615F turbofans, 1460 lb thrust each
Performance

  • Maximum speed: Mach 0.63 (483 mph)
  • Cruise speed: 340 ktas (390 mph)
  • Range: 1167 nm (at max. takeoff weight) (1,343 mi)
  • Service ceiling: 41000 ft
  • Rate of climb: 3010 fpm
  • Thrust/weight: 0.337
  • Takeoff distance: 3,110 ft
  • Landing distance: 2,380 ft
≈ $3 million or so, add track, skis, etc.
 
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