March 27, 2015 / 10:35 AM / in 3 years

Ski-Doo maker BRP profit tops estimates on new products, stronger dollar

(Reuters) - BRP Inc (DOO.TO), the maker of Ski-Doo snowmobiles and Sea-Doo watercraft, reported a much higher-than-expected quarterly profit, helped by a stronger dollar, the introduction of new powersport vehicles and higher shipments of Can-Am off-road vehicles.

The company, spun off from Bombardier Inc (BBDb.TO) in 2003, said it expects revenue to rise 5-9 percent in the year ending January 2016, compared with analysts’ average estimate of a 5.4 percent increase.

BRP, which competes with Arctic Cat Inc ACAT.O, Polaris Industries Inc (PII.N) and Yamaha Motor Co Ltd (7272.T), reported a 10.4 percent rise in revenue for the year ended Jan. 31.

The company reported net profit attributable to shareholders of C$8.5 million ($6.8 million) in the fourth quarter ended Jan. 31, compared with loss of C$6.2 million a year earlier.

BRP earned 98 Canadian cents per share, well above analysts’ average estimate of 79 Canadian cents per share, according to Thomson Reuters I/B/E/S.

The Valcourt, Quebec-based company’s revenue rose 18.3 percent to C$1.07 billion, above analysts’ expectations of C$1.03 billion.

    Revenue from its year-round products business rose nearly 53 percent to C$416 million, helped by the introduction of new models such as Maverick X ds SSV and Outlander L ATV family all terrain vehicles.

    The company’s shares closed at C$23.76 on Thursday. The stock had fallen nearly 25 percent in the last 12 months, compared with a 5 percent rise in the Toronto Stock Exchange 300 composite index .GSPTSE.

    (Story refiles to correct to “Ski-Doo” from “Ski-doo” in headline)

    Reporting by Anannya Pramanick in Bengaluru; Editing by Savio D'Souza

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