Ski-Doo maker BRP Inc. reports lower adjusted profit on lower revenues
VALCOURT, Que. – BRP Inc., maker of Ski-Doos and off-road vehicles, is reporting a lower adjusted profit of $16.6 million in the first-quarter of fiscal 2015 and saw its revenues drop six per cent.
The Quebec company had an adjusted profit, which excludes one-time items, of $53.4 million in the same quarter of fiscal 2014.
Revenues were down at $758.6 million from $804.3 million in the same quarter of fiscal 2014.
Adjusted earnings per share were 14 cents versus 51 cents year-over-year.
Net income for the period was $28 million, down from $25 million year-over-year for the maker of Ski-Doos and other recreational vehicles.
BRP (TSX:DOO) says its anticipates a stronger second half of the year due to such factors as strong spring snowmobile orders and the restart of the Sea-Doo Spark manufacturing in Mexico, but expects its financial performance to be similar to last year’s as a result of continued uncertainty in Eastern Europe.
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