New produict : Lapierre North America Reveals Cyclocross Offerings

KENT, Wash. , Jul 29, 2013 -
Lapierre, an established, performance-driven mountain and road cycling brand born in France, announces its 2014 cyclocross bike collection for the North American market, which debuted this past weekend at DealerCamp 2013. Various models including the Cross Carbon and Cross Alloy will be available at independent bicycle dealers (IBDs) in North America starting January 2014.

“The sport of cyclocross is rapidly growing in popularity and performance,” said Kirk Bausch, Director of Sales and Marketing for Lapierre North America. “The unveiling of our Cross line is aligned with the growing market in North America. We are excited to introduce a couple of rides infused with as much innovation as the sport itself.”

Integrating the technologies of their iconic road and mountain bicycle designs, Lapierre has created a cyclocross series that boasts premium product performance. The newest Cross Carbon and Cross Alloy rigs are the direct result of extensive research and product development with famed athletes of the Francaise De Jeux (FDJ) team, such as legendary rider Francis Mourey. These trusty steeds from Lapierre will take the North American cyclocross scene by storm this coming January.
Cross Carbon

• Ultegra: RDR, Shifters (CX70: FDR + Crank)
• Brakes: Avid BB7 Disc
• Fork: LP Full Carbon CX
• Wheels: Formula Hubs + Alex Rims
• Bar: Easton EA50
• Stem: Easton EA 50
• Post: Easton EA50
• Saddle: Selle Italia SL Red
• MSRP: $3,000 (Frame: $2,000)

Cross Alloy

• Shimano 105: RDR, Shifters (CX70: FDR, CX50: Crank)
• Brakes: SRAM Shorty 4 + Additional Levers
• Fork: LP carbon
• Wheels: Formula hubs + Alex Rims
• Bar: Ritchey Comp Curve
• Stem:Ritchey OS
• Post:Ritchey OE 2-Bolt
• Saddle:Selle Italia X1
• MSRP:$1,700

Visit www.LapierreBicycles.com for full bike specifications.

Lapierre North America unveiled its full 2014 North American product offerings at Bike DealerCamp 2013 at Deer Valley Resort in Park City, UT. In addition to cross bikes, Lapierre also revealed mountain bikes from the Spicy, Zesty and XR lines and road bikes from the Xelius EFI, Sensium, and Time Trial frame.

To learn more about Lapierre North America, visit www.lapierrebicycles.com. Dealer inquiries can be sent to: sales@lapierrebicycles.com.

About Lapierre Bicycles:
For more than 60 years, Lapierre has combined technological innovation, aesthetics, attention to detail and its experience in the most important competitions to offer the most beautiful and efficient bikes to aficionados. Whatever your ride, road or MTB competition, leisure, sport or fitness, you will find the bike of your dreams in the Lapierre collection. All of our bikes are created in France. Lapierre is the leader of the high-end mountain bike segment in the French market, and has now set its sights on the rest of the world. Follow the Lapierre North America community on Facebook and join the conversation on Twitter.

New product : Keep Your Head In The Game With The Reebok CHECKLIGHT™, A New Impact Indicator For Athletes.

Reebok, the global fitness brand, has launched the groundbreaking Reebok CHECKLIGHT™*, a sports activity impact indicator designed for athletes of all ages and skill-levels.  The CHECKLIGHT™ skullcap is designed for use in all helmeted and non-helmeted contact sports and activities.

In the heat of competition, athletes aren’t always aware of the severity of a blow to the head.  Reebok has delivered a simple solution. The CHECKLIGHT™ design uses multiple motion sensors to provide actionable impact data to help assess an athlete before continuing to play.  An easy-to-read display of red and yellow lights indicates the level of impact.  The Reebok CHECKLIGHT™ is the first impact indicator that comfortably fits wearable electronics directly on the athlete - not on the athlete’s protective equipment.  Embedding flexible electronics into a closely fitting skullcap helps to accurately measure direct accelerations that the head is experiencing in real-time.

Head impact injuries, also known as traumatic brain injuries, are a serious public health issue according to the Centers for Disease Control and Prevention (CDC).  Sports-related head injuries are a recognized problem in both contact and non-contact sports, and for athletes of all ages and skill levels – from the student athlete to the elite athlete.  For this reason, the CHECKLIGHT™ is specifically designed for players of all ages and skill levels.

“At Reebok, we are dedicated to helping people be fit for life, no matter which sport or activity they participate in,” said Paul Litchfield, Reebok’s Head of Advanced Concepts. “The more we learn about head injuries, the more we understand the long term ramifications and we want to do our part to help ensure people can participate, compete and enjoy life.  There is still much to be learned in this area, but we believe technology can play a significant role in improving the athletic experience and the CHECKLIGHT™ is a perfect example of this. We’re very proud to introduce such an innovative and important product.”

More than three years of lab and multi-sport field-testing with hundreds of athletes ranging from youth to professional have served in the development and validation of the CHECKLIGHT™.  During the creation of CHECKLIGHT™, Reebok has worked with head trauma experts in the medical and academic fields and professional athletes, including Indianapolis Colts quarterback Matt Hasselbeck.

 “As a professional athlete, I understand and assume the risks involved in playing a sport at the elite level,” says Hasselbeck. “But as a professional athlete, I am also fortunate to have the very best, most experienced athletic trainers, doctors, coaches, even TV monitors, watching me at all times, providing immediate medical attention and really looking out for my safety.  These resources just aren’t available at the youth level, where one coach may be responsible for the health and safety of an entire team.  With the extra set of eyes provided by the CHECKLIGHT™, athletic trainers, coaches, and parents have the actionable information they need to check up on the athletes they care about.”

The Reebok CHECKLIGHT™ utilizes the award-winning conformal electronics technology platform developed by Cambridge, MA electronics company MC10 to help ensure the product is comfortable and non-distracting to the athlete. MC10 reshapes high-performance electronics into ultra-thin systems that stretch, bend and flex seamlessly with the body.

The CHECKLIGHT™ takes sophisticated impact data and simplifies it by providing easy-to-read, actionable LED lights.  By providing an objective measure of impact force, the CHECKLIGHT™ takes the burden off the athlete alone to start a conversation about symptoms.  The device also helps reinforce safer contact techniques by encouraging athletes to keep their heads up and out of impacts.
“I have no doubt this will help create a paradigm shift in the way the sport of lacrosse is played,” says Philadelphia Wings (NLL) and Hamilton Nationals (MLL) all-star Brodie Merrill. “We need to teach athletes to not lead with their heads and to play the game as it is meant to be played; without the use of excess physical hits to the head.  The effects these traumas can have on an athlete, in any sport, of any age, are dangerous, and the Reebok CHECKLIGHT™ is the first step towards creating a safe and smart game.”

EN

Reebok CHECKLIGHT Press Release

Business news : Callaway Golf Reduces Guidance on Soft Market Conditions

Callaway Golf Co. earned $9.3 million, or 12 cents a share, in its second quarter, up from $178,000, or less than one cent a share, in the year ago period. Revenues inched up 1 percent. Callaway said the improved results came despite softer than expected market conditions in the golf industry, and were generally consistent with the first half guidance provided by the company last quarter.

The company's results include 6 percent sales growth for the first half of 2013, and 1 percent sales growth for the second quarter of 2013, both on a constant currency basis on its current business, which excludes the brands and businesses that in 2012 were sold or transitioned to a third party model.  The company's GAAP sales results reflect the impact of the sold or transitioned businesses, which negatively impacted GAAP sales comparisons by approximately $45 million for the first half of 2013 and by approximately $25 million for the second quarter of 2013.  The reported GAAP sales results were also impacted by changes in foreign currency rates in 2013 as compared to 2012, which adversely affected sales by approximately $18 million for the first half of 2013 and by approximately $10 million for the second quarter of 2013. GAAP sales, which include the impact of foreign currency and the sold or transitioned businesses, decreased by 5 percent and 11 percent for the first half and second quarter of 2013, respectively.

The company's improved brand momentum, operating efficiencies and cost management enabled the company to overcome the softer than expected market conditions, adverse effects of the changes in foreign currency rates, and the impact of the sold or transitioned businesses. As a result, the company reported improvements in operating income and earnings per share on a GAAP and non-GAAP basis for both the first half of 2013 and second quarter of 2013 as compared to the same periods in 2012. 

GAAP RESULTS. 

For the second quarter of 2013, the Company reported the following GAAP results:

Dollars in millions except per share amounts	2013	% of Sales	2012	% of Sales	Improvement / (Decline)
Net Sales	$250	-	$281	-	($31)
Gross Profit	$96	38.3%	$111	39.4%	($15)
Operating Expenses	$84	34%	$101	36%	$17
Operating Income	$11	5%	$10	3%	$1
Net Income	$10	4%	$3	1%	$7
Earnings per share	$0.12	-	$0.00	-	$0.12

For the first half of 2013, the Company reported the following GAAP results:

Dollars in millions except per share amounts	2013	% of Sales	2012	% of Sales	Improvement / (Decline)
Net Sales	$537	-	$566	-	($29)
Gross Profit	$226	42.1%	$235	41.5%	($9)
Operating Expenses	$174	33%	$198	35%	$24
Operating Income	$52	10%	$37	7%	$15
Net Income	$52	10%	$35	6%	$17
Earnings per share	$0.59	-	$0.41	-	$0.18

NON-GAAP FINANCIAL RESULTS.

In addition to the Company's results prepared in accordance with GAAP, the Company has also provided additional information concerning its results on a non-GAAP basis. The manner in which the non-GAAP information is derived is discussed in more detail toward the end of this release and the Company has provided in the tables to this release a reconciliation of this non-GAAP information to the most directly comparable GAAP information.

For the second quarter of 2013, the Company reported the following non-GAAP results:

Dollars in millions except per share amounts	2013	% of Sales	2012	% of Sales	Improvement / (Decline)
Net Sales	$250	-	$281	-	($31)
Gross Profit	$100	40.0%	$112	39.7%	($12)
Operating Expenses	$83	33%	$97	35%	$14
Operating Income	$16	7%	$14	5%	$2
Net Income	$10	4%	$6	2%	$4
Earnings per share	$0.12	-	$0.05	-	$0.07

For the first half of 2013, the Company reported the following non-GAAP results:

Dollars in millions except per share amounts	2013	% of Sales	2012	% of Sales	Improvement / (Decline)
Net Sales	$537	-	$566	-	($29)
Gross Profit	$232	43.3%	$236	41.7%	($4)
Operating Expenses	$172	32%	$201	35%	$29
Operating Income	$60	11%	$35	6%	$25
Net Income	$39	7%	$21	4%	$18
Earnings per share	$0.45	-	$0.25	-	$0.20

"We are pleased with the results for the second quarter and first half of the year, with continued gains in market share in most major markets driving an increase in sales on a constant currency, continuing business basis of 1 percent and 6 percent respectively," commented Chip Brewer, President and Chief Executive Officer.  "Likewise, non-GAAP net income for the second quarter and first half of the year increased 71 percent and 86 percent, respectively, compared to the same periods in 2012. Our turnaround plan remains on track and we have been able to continue to grow our hard goods market share despite market conditions that remained challenging during the quarter due to both continued adverse weather conditions and higher than normal promotional activity in both North America and Europe."

"Our new products, and in particular our X Hot line of woods and irons, have resonated well this year with consumers globally," continued Mr. Brewer. "Additionally, we are equally excited about the new products being introduced during the second half of this year, which include the new OptiForce driver and fairway woods, the Mack Daddy 2 wedges designed by Roger Cleveland, as well as our new Legacy Black product line to be introduced in Japan and the rest of Asia later this quarter. However, due to softer than expected market conditions and increased promotional activity, we are reducing our full year sales guidance and indicating in our revised earnings guidance that it is unclear whether our improved operating performance will be able to continue to offset fully the reduced sales estimates as we have been able to so far this year."

Business Outlook

Because of softer than expected market conditions and increased promotional activity, the company is revising its full year financial guidance.  The company is currently providing the following revised guidance for the full year 2013:

• Net sales for the full year 2013 are currently estimated to be $810-$820 million, compared to previous guidance of $830 million.  Net sales for 2012 were $834 million, which included sales of $60 million related to the brands and products that in 2012 were sold or transitioned to a third party model.  Excluding sales from the sold or transitioned businesses, the company estimates that net sales from its current business on a constant currency basis will increase by approximately 10 percent compared to 2012.
• For the full year 2013, the company estimates a non-GAAP pre-tax loss within a range of $9 million to breakeven, which based upon an assumed tax rate of 38.5 percent equates to an estimated non-GAAP net loss within a range of $6 million to breakeven and a non-GAAP loss per share of $0.12-$0.04 including the impact of dividends paid on the company's outstanding convertible preferred stock. The company's prior guidance was for net income at breakeven and a loss per share of $0.04. For the full year 2012, the company's non-GAAP loss was $43 million with a non-GAAP loss per share of $0.77.*

*Note:  The non-GAAP estimates of earnings/loss exclude for 2013 carryover charges related to the company's 2012 cost-reduction initiatives and exclude for 2012 gains and charges related to the sale of the Top-Flite/Ben Hogan brands and the 2012 cost-reduction initiatives.  The non-GAAP estimates for both 2013 and 2012 are based upon an assumed tax rate of 38.5 percent for comparative purposes because the GAAP tax rates are not directly correlated to the company's pre-tax results due to the effect of the company's deferred tax valuation allowance.

Callaway Golf Company
Statements of Operations
(In thousands, except per share data)
(Unaudited)
				Quarter Ended
				June 30,
				2013		2012
Net sales				$ 249,646		$ 281,123
Cost of sales				153,994		170,470
Gross profit				95,652		110,653
Operating expenses:
	Selling			61,672		75,711
	General and administrative			15,169		18,446
	Research and development			7,333		6,930
		Total operating expenses		84,174		101,087
Income from operations				11,478		9,566
Other income (expense), net				28		(4,571)
Income before income taxes				11,506		4,995
Income tax provision				1,435		2,196
Net income				10,071		2,799
Dividends on convertible preferred stock				783		2,625
Net income allocable to common shareholders				$     9,288		$        174
Earnings per common share:
	Basic			$0.13		$0.00
	Diluted			$0.12		$0.00
Weighted-average common shares outstanding:
	Basic			71,111		65,060
	Diluted			86,349		65,112

By press release

Business news : Arctic Cat Reports Record Fiscal 2014 First Quarter Results

• Net sales increased approximately 9 percent to record $120.8 million on higher sales across all product lines;
• Net earnings up 172 percent to $5.5 million from $2.0 million;
• Diluted EPS up 186 percent to record first quarter $0.40 versus $0.14 in prior-year quarter;
• Gross profit margin rose to 24.1 percent from 20.2 percent;
• Company raises full-year earnings outlook for fiscal 2014

MINNEAPOLIS, MN – July 25, 2013 –  Arctic Cat Inc. (NASDAQ: ACAT) today reported that record net earnings rose 172 percent to $5.5 million, or $0.40 per diluted share, for the fiscal first quarter ended June 30, 2013, compared to net earnings of $2.0 million, or $0.14 per diluted share, in the prior-year quarter. Arctic Cat’s net sales for the fiscal 2014 first quarter grew approximately 9 percent to a record $120.8 million versus net sales of $111.3 million in the same quarter last year.

“We are pleased to begin the year with a strong first quarter, with increased revenues across all product lines,” said Claude Jordan, Arctic Cat’s chairman and chief executive officer. “Contributing to the quarter was continued growth in our ATV/side-by-side business, which rose 5 percent on top of a 93 percent sales increase in the same period last year. In addition, we benefited from late spring snowfall in North America that helped snowmobile parts sales. For the 2014 first quarter, EPS improvement was primarily due to higher sales volumes, a favorable product mix, and our continued success in enhancing operating efficiency and lowering our cost structure. As a result, Arctic Cat delivered record 2014 first-quarter sales and profits.”

Among the highlights of Arctic Cat’s fiscal 2014 first-quarter financial results compared with the prior-year quarter:

• Net sales growth of approximately 9 percent was fueled by gains across all product lines, with the highest dollar contributions coming from the recently launched Wildcat X side-by-side and snowmobiles.
• Gross margin improvement of nearly 4 percentage points was due to higher volumes, product mix and improved efficiency. The company expects gross margins to moderate in subsequent quarters, as it begins supplying lower margin snowmobile units to Yamaha in the fiscal 2014 second quarter.
• Operating expenses as a percent of sales declined approximately 30 basis points to 17.1 percent compared to 17.4 percent. The company continued to increase investment in research and development to ensure a strong pipeline of new products and technologies, while maintaining strict cost controls.
• Operating profit rose 172 percent to $8.5 million from $3.1 million.
• The company had no debt.

Arctic Cat ended the 2014 first quarter with cash and short-term investments totaling $48.9 million, up from $17.4 million a year ago. During the quarter, the company repurchased approximately 31,000 shares of the company’s stock at a cost of approximately $1.4 million.

Business Line Results

ATVs/Side-by-Sides – Sales of Arctic Cat’s all-terrain vehicles (ATVs) and side-by-sides rose 5 percent to $76.3 million, up from $73.0 million in the same period last year, primarily due to strong orders for the Wildcat X and the four-seat Wildcat 4 pure sport side-by-sides, which are the company’s two newest Wildcat offerings.

Commented Jordan: “Our ATV/side-by-side business performed very well in the 2014 first quarter. We are pleased to see a solid 5 percent gain in this business in the quarter. We achieved this growth despite economic headwinds in our European business and a tough year-over-year comparison. With the new products that we will launch in August 2013, we continue to expect our ATV/side-by-side business to grow 25 percent to 29 percent this fiscal year.”

Arctic Cat remains focused on further increasing its ATV/side-by-side business as a percent of total sales. The company anticipates that its sales in this product line will exceed 50 percent of total company sales for the fiscal 2014 full year. During fiscal year 2013, 45 percent of sales were in the ATV/side-by-side segment, up from 39 percent the previous year. The company continues to advance its growth strategy through new product introductions and international expansion. Arctic Cat anticipates launching multiple new ATV/side-by-side products every quarter through the fiscal 2014 year end.

Since entering the sport side-by-side segment with the Wildcat only a year and a half ago, Arctic Cat has rapidly extended its Wildcat line and now offers: Base and Limited models; the four-seat Wildcat 4; and the high-horsepower Wildcat X. Additionally, the company has announced that it will begin shipping a 50-inch wide, trail-legal Wildcat in late fiscal 2014. With a narrower stance, the 50-inch Wildcat will allow riders access to authorized ATV trails, making it a versatile option for consumers.

Snowmobiles –

Snowmobile sales in the fiscal 2014 first quarter rose 26 percent to $22.6 million, up from $18.0 million in the prior-year quarter. For the 2014 model year, Arctic Cat launched 10 snowmobiles, including the all-new ZR 6000 El Tigre high-performance sled, and new snowmobile engine options from Arctic Cat and Yamaha through an engine supply agreement. Of these, Arctic Cat’s first designed and built snowmobile engine – the 6000 C-TEC2 – is a powerful, lightweight and fuel-efficient 2-stroke that enables the company to enter the large 600cc snowmobile market segment that now accounts for 18 percent of the snowmobile industry.

Commented Jordan: “We’ve received enthusiastic dealer response to our 2014 model year snowmobile line-up, with its exciting array of new engine and chassis options. And our expanded relationship with Yamaha is proceeding smoothly. We are excited to offer snowmobiling enthusiasts industry-leading chassis and engine options that will give our customers the most well-rounded choices for technology, reliability and horsepower.”

Parts, Garments & Accessories –

Sales of parts, garments and accessories (PG&A) in the fiscal 2014 first quarter increased 7 percent to $21.9 million versus $20.4 million in the prior-year quarter. The growth stemmed primarily from sales of garments, parts and oil.

Fiscal 2014 Full-Year Outlook

For the fiscal year ending March 31, 2014, Arctic Cat is increasing its earnings guidance and now expects earnings to be in the range of $3.27 to $3.37 per diluted share, an increase of 13 percent to 17 percent over prior-year earnings of $2.89 per diluted share. The company continues to anticipate sales in the range of $754 million to $768 million, an increase of approximately 12 percent to 14 percent versus fiscal 2013. Previously, Arctic Cat estimated fiscal 2014 full-year earnings in the range of $3.17 to $3.27 per diluted share.

Arctic Cat’s fiscal 2014 outlook includes the following assumptions versus the prior fiscal year: core ATV North America industry retail sales flat to up 5 percent; side-by-side North American industry retail sales up 15 percent to 25 percent; snowmobile North America industry retail sales flat to up 3 percent; Arctic Cat dealer inventories excluding new products flat to up 10 percent; achieving slightly lower operating expense levels as a percent of sales; and increasing cash flow from operations. The company expects gross margins to decrease by approximately 80 basis points, due to additional Yamaha snowmobiles that will be built in Arctic Cat’s factory and, to a lesser extent, the Canadian currency impact.

“We continue to anticipate another year of increased sales and record earnings in fiscal 2014,” said Jordan. “We expect our growth to be fueled by a strong pipeline of innovative new products and technologies, further market share gains in the growing side-by-side segment and continued leverage in our cost structure. We are excited about our future prospects and confident in our ability to deliver another year of enhanced shareholder value.”

Conference Call

A conference call is scheduled for 10:30 a.m. CT (11:30 a.m. ET) today. To listen to the live call, dial 877-941-9205. The webcast may be accessed through the investor relations section of www.arcticcat.com/corporate. In addition, a telephone replay will be available through August 1, 2013, by dialing 800-406-7325, passcode 4631843.

About Arctic Cat

Arctic Cat Inc. designs, engineers, manufactures and markets all-terrain vehicles (ATVs), side-by-sides and snowmobiles under the Arctic Cat® brand name, as well as related parts, garments and accessories. Its common stock is traded on the Nasdaq Global Select Market under the ticker symbol “ACAT.” More information about Arctic Cat and its products is available at www.arcticcat.com.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for certain forward-looking statements. The Company’s Annual Report, as well as the Report on Form 10-K, its Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission, the Company’s press releases and oral statements made with the approval of an authorized executive officer, contain forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. The words “aim,” “believe,” “expect,” “anticipate,” “intend,” “estimate” and other expressions that indicate future events and trends identify forward-looking statements including statements related to our fiscal 2013 outlook. Actual future results and trends may differ materially from historical results or those anticipated depending on a variety of factors, including, but not limited to: product mix and volume; competitive pressure on sales, pricing and sales incentives; increase in material or production cost which cannot be recouped in product pricing; changes in the sourcing of engines; interruption of dealer floorplan financing; warranty expenses and product recalls; foreign currency exchange rate fluctuations; product liability claims and other legal proceedings in excess of reserves or insured amounts; environmental and product safety regulatory activity; effects of the weather; general economic conditions and political changes; interest rate changes; consumer demand and confidence; and those set forth in the Company’s Annual Report on Form 10-K for the year ended March 31, 2011, under heading “Item 1A. Risk Factors.” The Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

FINANCIAL TABLES FOLLOW

ARCTIC CAT INC.
Financial Highlights
(000s omitted, except per share amounts)
(Unaudited)
		Three Months Ended
		June 30,
		2013				2012
Net Sales
Snowmobile & ATV Units		$	98,914			$	90,953
Parts, Garments & Accessories			21,854				20,358
Total Net Sales			120,768				111,311
Cost of Goods Sold
Snowmobile & ATV Units			77,908				75,556
Parts, Garments & Accessories			13,700				13,276
Total Cost of Goods Sold			91,608				88,832
Gross Profit			29,160				22,479
Operating Expenses
Selling & Marketing			6,994				6,807
Research & Development			5,282				4,478
General & Administrative			8,411				8,074
Total Operating Expenses			20,687				19,359
Operating Profit			8,473				3,120
Other Income (Expense)
Interest Income			9				13
Interest Expense			(3	)			(20	)
Total Other Income (Expense)			6				(7	)
Earnings Before Income Taxes			8,479				3,113
Income Taxes			3,011				1,105
Net Earnings		$	5,468			$	2,008
Net Earnings Per Share
Basic		$	0.41			$	0.15
Diluted		$	0.40			$	0.14
Weighted Average Shares Outstanding:
Basic			13,215				13,060
Diluted			13,711				13,877
		June 30,
Selected Balance Sheet Data:		2013				2012
Cash and Short-term Investments		$	48,894			$	17,384
Accounts Receivable, net			43,734				39,947
Inventories			149,736				140,776
Total Assets			306,219				258,735
Short-term Bank Borrowings			-				4,214
Total Current Liabilities			119,283				115,538
Long-term Debt			-				-
Shareholders’ Equity			182,460				140,431

		Three Months Ended
		June 30,
Product Line Data:		2013			2012			Change
All-Terrain Vehicles		$	76,340		$	72,966		5%
Snowmobiles			22,574			17,987		26%
Parts, Garments & Accessories			21,854			20,358		7%
Total Sales		$	120,768		$	111,311		9%

Source: Arctic Cat Inc.

Arctic Cat Inc.
Timothy C. Delmore, 763-354-1800  / Chief Financial Officer
or Padilla Speer Beardsley Inc.b/b / Shawn Brumbaugh, 612-455-1754
sbrumbaugh@padillaspeer.com 


By press release

Organization news : SIMA announces changes to Stokes Me campaign

ALISO VIEJO, Calif. (July 24, 2013) – The SIMA Humanitarian Fund’s annual campaign, Stokes Me, returns for its second year this September. This year Stokes Me takes fundraising to a new level with surf industry brands and retailers joining forces, more fun in the wave pool at Surf Expo and new faces on the Humanitarian Fund Board.

In a departure from last year’s fundraising competition, Stokes Me will use retail participation to raise money this year. Select retail locations will ask customers to add a dollar to their order throughout the month of September and surf industry brands will add to those donations with pledges of up to $7,500.

The participating retailer list stretches across the country and includes Hi Tech, Jack’s, Noll Surfboards, Surfside Sports, Maui Nix, Spyder, Surfride, Coastal Edge and Brave New World, among others.  Surfer Magazine, Surfing Magazine, and Surfline.com have all donated media space in order to drive customers into the participating stores. With these marquee surf industry doors and industry brands participating, the campaign is poised for success.

Stokes Me will kick-off with the Stokes Me Surf Contest on Saturday, September 7, at the Surf Expo Industry Party presented by Sanuk. Participants will throw down in the wave pool in a contest that’s anything but average. Brands and retailers will be on hand to see which antics stoke them, all in the name of fun and charity.

To participate, brands can choose to be a Super Stoked donor, a Stoked donor, or pledge a ‘la carte. The Super Stoked $7,500 pledge includes brand recognition on promotional material and four guaranteed spots in the Stokes Me Surf Contest. The Stoked pledge of $5,000 includes brand recognition on the Stokes Me social media and website and two spots in the Stokes Me Surf Contest if available (based on a first-come, first-served basis). Brands pledging a ‘la carte can choose to donate from $1,000 - $5,000 with a donation of $1,500 or more receiving two spots in the Stokes Me Surf Contest if available. These donations are all tax-deductible.

Among the changes for 2013, three new board members are also lending their wit and work to the effort. Dylan Slater from Rip Curl, Courtney Kincade from O’Neill, and Chris Wagaman from Salt Life and the Noll Project have joined the board.

“These three guys have been instrumental in refining the Stokes Me program and moving it forward,” said Ross Garrett, SIMA Humanitarian Fund President. “They are all great thinkers and hard workers, putting the welfare of their industry and others before themselves.”

The money raised through the Stokes Me campaign is given to selected beneficiaries who are vetted through an application process. These organizations are chosen by the SIMA Humanitarian Fund Board of Directors based on the organizations’ dedication to improving the quality of life, health and/or welfare of people.

The 2013 beneficiaries include:
AccesSurf Hawaii
Best Day Foundation
Cystic Fibrosis Foundation
Jimmy Miller Foundation
Keep a Breast
Life Rolls On
Outdoor Outreach
Stoked Mentoring
SurfAid
Surfers Healing
Waves 4 Water

Does this stoke you? For more information about Stokes Me and how to get involved visit www.stokesme.org or contact SIMA Event Specialist, Kelly Keenan, at 949-366-1164 ext. 3.

About SIMA
The Surf Industry Manufacturers Association (SIMA) is the official working trade association of more than 300 surf industry suppliers. Founded in 1989, SIMA is a non-profit organization that serves to promote awareness of the surf industry and participation in the sport of surfing through public relations efforts and a variety of services, educational programs and research. In addition, SIMA actively supports oceanic environmental efforts through its 501(c)(3) charitable environmental foundation, the SIMA Environmental Fund. In the past 23 years, SIMA's Environmental Fund has raised more than $6.2 million for environmental groups seeking to protect the world's oceans, beaches and waves. The SIMA Humanitarian Fund, also a 501(c)(3) charitable foundation, was established in 2006 to award grants to various surf or boardsport related social and humanitarian non-profit organizations whose efforts are focused on improving the quality of life, health and/or welfare of people.

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Mobile application : adidas Launches World's First Football Tracking Mobile App

Snapshot helps fans to film, analyse and share their best football shots.

adidas today unveiled Snapshot, the world's first football tracking app on a smartphone. The cutting edge software tracks, records and analyses football shots and allows users to share their results with the world.

Fans that download the app will be able to film their kicks with friends, with the innovative technology calculating the speed, angle and flight time of every shot. Every kick can be analysed, giving fans important information on their game and helping them to improve.

Players can keep record of all kicks in a Library section, track their best achievements and score history or compare their shots with the world's best players led by Gareth Bale.

Features of the app include real time and super slow-motion video playback and visual effects. The app allows photos and videos of shots to be uploaded to Facebook, YouTube and Twitter and then players can challenge their friends for the highest score and achievements.

Bob Kirk, Senior Development Engineer, adidas innovation team said; "We are very excited by the launch of Snapshot, a cutting edge smartphone app which will help fans with the analysis and improvement of their own game. Some of our leading players have already enjoyed using the app and it keeps adidas at the forefront of innovation and technology in football."

The app is available in 18 languages and downloadable on the iPhone and iPod touch from The App Store.

For further information please visit adidas.com/football or go to facebook.com/adidasfootball or @adidasfootball on twitter to join the conversation

Source adidas

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Retail and Business news : USA, West Marine reports Q2 2013 results ; Updates 2013 Earnings Guidance

West Marine, Inc. (Nasdaq:WMAR), the largest specialty retailer of boating supplies and accessories, today reported financial results for the second quarter ended June 29, 2013.

Net revenues were $236.8 million, a decrease of 2.8% compared to last year.

Comparable store sales decreased by 2.7%.

Direct-to-Consumer sales were up 12.0%, driven by our strategic investments in eCommerce.

Sales in our merchandise expansion categories (which include footwear, apparel, clothing accessories, fishing products and paddle sports equipment) were up 4.3%, with core usage-related product sales down 3.5%, compared to last year.

Pre-tax income was $37.7 million, down 1.1% compared to pre-tax income of $38.1 million last year.

The company is lowering 2013 full-year guidance, with pre-tax income now expected to be in the range of $15.5 million to $17.5 million, compared to pre-tax income of $24.3 million for 2012.

Net income per diluted share was $0.91 for the second quarter, compared to net income per share of $0.95 last year.

Second quarter liquidity continued to improve, with cash increasing from $37.1 million last year to $45.8 million.

Total inventory at the end of the second quarter was $243.1 million, a 2.3% decline versus last year.

The company remained debt-free at quarter-end with $115.8 million available on its revolving credit line at the end of the period.

Net revenues for the 13 weeks ended June 29, 2013 were $236.8 million, a decrease of 2.8% compared to net revenues of $243.6 million for the 13 weeks ended June 30, 2012.

In line with our omni-channel focus, beginning in the first quarter, we changed the definition of comparable store sales to now include sales from our Direct-to-Consumer and wholesale channels. As before, store sales are included in comparable store sales in the fiscal period in which they commence their 14th full month of operations. Stores that were closed or substantially remodeled (i.e., resulting in an increase or decrease of 40% or more of selling square footage) are excluded. Using this new definition, comparable store sales for our second quarter decreased by 2.7% over the same period last year. For the second quarter last year, we reported a 2.1% increase in comparable store sales. However, using the new definition, our second quarter 2012 comparable store sales would have increased by 1.8%.

Matt Hyde, West Marine's CEO, commented: "The quarter came in much weaker than expected due to reduced recreational boating usage as a consequence of the continued unfavorable weather. We have been able to partially offset these results with our growth strategies and by sales in areas experiencing a more typical boating season. Our teams are responding by managing our expenses and controlling inventories, while we continue to invest in our future growth strategies with a focus on strengthening West Marine."

Net income for the second quarter was $22.3 million, or $0.91 per diluted share, compared to net income of $22.6 million, or $0.95 per diluted share, for the second quarter last year.

Net revenues for the 26 weeks ended June 29, 2013 were $351.0 million, a decrease of 3.8% compared to net revenues of $365.0 million for the 26 weeks ended June 30, 2012. 

Comparable store sales decreased by 4.0% for the first six months of 2013 versus the same period last year. For the first six months last year, we reported a 2.8% increase in comparable store sales. However, using the new definition, our first six months 2012 comparable store sales would have increased by 2.3%.

Net income for the first six months was $13.3 million, or $0.54 per diluted share, compared to net income of $16.4 million, or $0.69 per diluted share for the first six months last year.

Total inventory at the end of the second quarter was $243.1 million, a $5.8 million, or 2.3%, decrease versus the balance at June 30, 2012, and a 0.5% decrease on an inventory per square foot basis. Inventory turns for 2013 were down 2.2% versus the first six months of last year.

2013 Guidance

During the first half of 2013, our sales results were lower than expected, driven primarily by unusually cold, rainy and windy weather in many of our markets, which in turn resulted in a reduction in boat usage. Consequently, we are lowering our previously-issued sales and earnings guidance for fiscal year 2013. We now expect pre-tax income in a range of $15.5 million to $17.5 million, approximately $9.0 million lower than our previously-communicated pre-tax income guidance. This will result in diluted earnings per share of approximately $0.37 to $0.42. Comparable store sales for full-year 2013 are now anticipated to be down 2.0% to 4.0% (using our new definition for comparable store sales outlined above), with total revenues now expected to be in the range of $650 million to $660 million, $27.5 million lower than our previously-communicated guidance. We anticipate capital expenditures for fiscal 2013 to be in the range of $25 million to $29 million, unchanged from our prior guidance.

Share Repurchase Program

As previously disclosed, our Board of Directors authorized a $10 million stock repurchase program with the primary purpose of mitigating the dilutive impact of shares issued under the company's omnibus equity incentive plan and its employee stock purchase plan. No shares were repurchased during the second quarter of 2013.

Investor Conference Call

West Marine will hold a conference call and webcast on Thursday, July 25, 2013, at 1:00 p.m. Eastern Time (EDT) to discuss its second quarter 2013 results. The live call will be webcast and available in real time on the Internet at westmarine.com under "Investor Relations." Participants may also dial (888) 756-1546 in the United States and Canada and (706) 634-1041 for international calls. Please be prepared to give the conference ID number 16686186.

An audio replay of the call will be available July 25, 2013 at 4:00 p.m. EDT through August 1, 2013 at 11:59 p.m. EDT. The replay number is (855) 859-2056 in the United States and Canada and (404) 537-3406 for international calls. The access code is 16686186.

About West Marine

West Marine, Inc. is the largest specialty retailer of boating supplies and accessories, with 294 company-operated stores located in 38 states, Puerto Rico, Canada and five franchised stores located in Turkey. Founded in 1968 by a sailor, West Marine has grown to become a leading omni-channel retailer for boats and boaters – from power cruisers and sailors to anglers and paddle sports enthusiasts. West Marine also offers gear, apparel and footwear for anyone who enjoys recreational time on or around the water. The company's wholesale channel is one of the largest distributors of marine equipment serving boat manufacturers, marine services, commercial vessel operators and government agencies. 

For more information on West Marine, Inc. its products and store locations, visit westmarine.com or call 1-800-BOATING (1-800-262-8464). West Marine's stock is traded on NASDAQ under the symbol WMAR.

Special Note Regarding Forward-Looking Statements

This press release includes "forward-looking" information (as defined in the Private Securities Litigation Reform Act of 1995), including statements that are predictive or express expectations that depend on future events or conditions that involve risks and uncertainties. These risks and uncertainties include, among other things, risks related to continued unseasonably cold, rainy and windy boating season, expectations related to our earnings and profitability, expectations and projections with respect to our ability to execute on our strategic growth strategies, expectations related to our ability to manage our assets, and our expectations for full-year 2013 results, as well as facts and assumptions underlying these expectations and projections. In addition, the results presented in this release are preliminary and unaudited, and may change as we finalize our financial statements. Actual results for our second quarter of 2013 and the current fiscal year may differ materially from the preliminary expectations expressed or implied in this release due to various risks, uncertainties or other factors, including the risk factors set forth in West Marine's annual report on Form 10-K for the fiscal year ended December 29, 2012, as well as the discussion of critical accounting policies in our Form 10-K for the year ended December 29, 2012. Except as required by applicable law, West Marine assumes no responsibility to update any forward-looking statements as a result of new information, future events or otherwise.

Non-GAAP Financial Information

 
This release references certain financial information not calculated in accordance with GAAP. We believe that Return on Invested Capital ("ROIC"), as presented in the accompanying financial tables, is a meaningful measure of our efficient and effective use of capital. ROIC is not a measure of financial performance under GAAP and may not be defined and calculated by other companies in the same manner. This non-GAAP measure should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.  

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