BRP reports fiscal year 2017 first-quarter results
- Revenues of $930 million for the first quarter of FY2017, a 3.5% increase compared to the same period last year;
- Net income of $111 million, an increase of $28 million, which resulted in a diluted earnings per share of $0.96, an increase of $0.26 per share compared to the same period last year;
- Normalized EBITDA of $57 million, a 38% decrease compared to the same period last year;
- Normalized net income of $5 million resulting in a normalized diluted earnings per share of $0.04, a decrease of $0.27 per share; and
- Highest North American market share ever recorded in Ski-Doo snowmobile retail sales during the 2016 season ended in March.
In addition, on June 1, 2016, a verdict was rendered against the Company for an alleged patent infringement providing for US$15.5 million (CA$19.5 million) in compensatory damages. Management believes that the verdict is unfounded and intends to file an appeal.
Valcourt, Québec, June 9, 2016 – BRP Inc. (TSX:DOO) today reported its financial results for the three-month period ended April 30, 2016. All financial information is in Canadian dollars unless otherwise noted. The complete financial results are available at www.sedar.com.
Further information can be found in the press release.