Nike Air Force One Shoes management expenses

13. března 2014 v 2:55
Arctic Air Jordan 5 For Sale cat's ceo speaks about q1 2012 results Along with gentlemen, thank you for standing By and welcome to the arctic cat's fiscal 2012 first quarter earnings business call.During today's production, both parties will be in a listen only mode.Following your presentation, the summit will be opened for questions. (Details)This summit is being recorded today, thursday night, july 28, 2011.Regards.And many thanks for joining us this morning.I'm shawn brumbaugh utilizing padilla speer beardsley.Before the market opened today, arctic cat released recent most current listings for the fiscal 2012 first quarter ended june 30, 2011.Participating in our call today to discuss the company's performance and outlook will be president and ceo, claude michael the air nike jordans;And chief investment officer, bernard delmore.As a result of their remarks, we will have time for any queries.Earlier to we begin, please note that some of the comments made today will be forward looking statements regarding send out expectations of future performance.Such statements are subject to risks and uncertainties and actual results may differ materially from those inside the statements.These risks and concerns are described in today's news release and in the company's filings with the securities and exchange commission.We encourage you to review these documents for some of risk factors that may affect results.Now i'll turn the phone call over to arctic cat's ceo, claude michael the air nike jordans.All the best, shawn.Good morning everyone and thank you joining us today.Today, i will cover someone performance of our three businesses as well as the progress we've made in operations as we continue to focus on profitability and reducing inventory.Here my comments, bob delmore, today's cfo, will review our financial results.Existing, we are really happy with our financial performance for the first quarter.As we mentioned at the start of the year, we got down to grow sales in all product categories, improve gross edges, improve profit per share, generate additional cash reducing dealer inventory.From first quarter, we are on track to each of these.In regard to the consumer businesses, snow sled sales were up 2% for the quarter, primarily driven By the improved volume in pricing.It also, snowmobile dealer inventory for nova scotia was lower By 16%, driven By superb snow conditions we experienced last year.With a lower inventory and increased orders we're receiving on the 23 all new procross and proclone snow sled models, we launched trapped on tape, we expect snow vehicles sales to be up between 25% to 28%.This increase will be seen in both united states and international markets.On the in the store side, we won't see any significant retails until september and october.Of course, we feel rest assured that the fiscal year 2012, will be a strong year for our snow vehicles business.On the atv corporate, sales raised 36% for the quarter.Key drivers were increased online in side By side sales.What's more, we continue to pay attention to matching our wholesale sales to retail sales, in better established and lowering our north american dealer inventory By 26%.Industry retail atv sales for nova scotia had another difficult quarter as sales decreased By approximately 15%.Although us industry retail sales were down, we could actually outperform the market and gained market share during the quarter.Our side By side business has continued to perform well and has seen year over year sales increases driven primarily By incorporating our hdx heavy duty utility vehicle which was launched last year.As good quality, tool will once again be an area of focus.As shown that, during the our march dealer show, offered yesterday, we are preparing to launch a new sports side By side vehicle called the wildcat, that is to be a new segment for us.We expect to start taking orders for the wildcat in our second quarter.The wildcat might need a 1, 000cc high source, d twin locomotive, gadget power steering, led lighting effects, bright and rear and a market leading 17 inches of travel suspension.Good initial feedback, we have obtained more dealers, we expect this to be a detailed addition to our model year 2012 lineup.Sales in our parts, garments and instrument business, continued to succeed and we're up 7% for the quarter.Improved upon sales were driven By oil, outfits and atv parts.In the quarter, we also launched our e-Marketing website for the us market, which will allow our customers buying parts, garments and tools online. InRegards to operational performance, We stated at the start of the year, Our focus would be on modernizing gross margin, Managing our operating expenses, Reducing factory inventory and ending the year with an increase of cash on our balance sheet.In the market of gross margins, our goal was to boost gross margins By 20 to 60 basis points.In first quarter, we have seen refurbishment to gross margin driven By higher volume, unit of trade, product cost reduction efforts and better selling pricing on select models.Objective.Have resulted in our gross margins, improving By 210 basis points within quarter.Gross margin improvement will still be a major focus area, and we still expect gross margins to improve By 20 to 60 basis points for the year, although commodity costs will continue a challenge. InRegards to operating experiences, We stated at the start of the year, Our goal was to hold performing expenses flat as a percent of sales.Bearing this in mind, we have continued to focus via business on all aspects of expense control.Having said that, we have continued to invest in application which has resulted in launching various new models for both the snowmobile and atv business.Your first quarter, we were good in decreasing operating expenses as a percent of sales.Based on our plans for all the year, we now believe that we will attain success in holding or decreasing operating expenses as a percent of sales.The final area of focus has been fitting in with improve our cash position.By lining our production with the demands that's available, we have prevailed in lowering our overall factory inventory from $88.1 million yr after to $86.5 million this in turn year.And also the continued focus on profitability has allowed the business to improve the year over year cash position from $58.6 million yr after to $99.3 million all of your year.As good quality, we continue to consider we will end the year with more cash on the balance sheet.These days, i wishes to turn the call over to tim, who will read the first quarter financials.Thankfully, claude.Good snack, the whole family.I would also like to welcome you all to the business call.Today i'll review financial features of our first quarter and our outlook for full year fiscal 2012.Net sales for the first quarter planted 18% or $74.9 million on $63.4 million for a similar quarter last year.Atv sales raised 36% to $37.9 million By $27.8 million primarily due to increased program sales as well as increased, Crawler, Side-By-Side utility vehicle sales.Snow sled sales increased 2% to $17.4 million far for $17.1 millionParts, Garments and devices sales increased 7% to $19.7 million because of $18.5 million, Primarily due to increased ATV parts and snow sled garments sales.Gross profits for the quarter extra 33% to $14.3 million faraway brought on by $10.8million.Gross profit number improved 210 basis points to 19.1% from 17% yr after.Improve was primarily driven by higher sales volumes, product cost cutbacks, price will increase, san francisco spa a stronger canadian dollar and lower sales incentivesselling, general and Nike Air Force One Shoes management expenses increased slightly to $17.9 million rather than $17.7 million, Primarily due to higher research and formation expenses.Sg as a percent of sales declined to 24% when equated with 28% in the prior year quarter.Our awareness income was 25, 000 or 18, 000 for similar quarter a year ago and interest expense was 2, 000 instead of 3, 000.

 

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