September 11, 2015 / 10:34 AM / 4 years ago

Ski-Doo snowmobile maker BRP reports surprise adjusted profit

(Reuters) - Canadian recreational vehicle maker BRP Inc (DOO.TO) reported a surprise adjusted profit for the second quarter, helped by higher sales of propulsions engines, accessories and clothing.

Revenue from the propulsion business, which makes Rotax engines, rose 13 percent to C$95.4 million while sales of parts, accessories and clothing rose 12 percent to C$154.9 million.

The company, which makes Ski-Doo snowmobiles and Sea-Doo watercraft, said total revenue rose 4 percent to C$812.1 ($613.5) million.

The company reported adjusted earnings of 3 Canadian cents per share, while analysts on average estimated a loss of 2 Canadian cents, according to Thomson Reuters I/B/E/S.

The company, which sells in more than 100 countries, raised its full-year adjusted earnings per share to C$1.55-C$1.70 per share from C$1.50-C$1.65 as it expects depreciation costs to decline.

Analysts were expecting an adjusted profit of C$1.60.

BRP’s competitors include Polaris Industries Inc (PII.N), Arctic Cat Inc ACAT.O and Kawasaki Heavy Industries Ltd (7012.T).

The company’s net loss widened to C$68.3 million, or 58 Canadian cents per share, in the quarter ended July 31 from C$3.6 million, or 3 Canadian cents per share, a year earlier.

eporting by Anannya Pramanick in Bengaluru; Editing by Don Sebastian

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below