(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.
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