Share price of Arctic Cat Inc. ACAT decreased 7.8% on May 12 to $13.53 after the company posted disappointing quarterly results. The company reported loss per share of $1.30 in the fourth quarter of fiscal 2016 (ended Mar 31, 2016), much wider than the Zacks Consensus Estimate of a loss of 86 cents. Loss per share was also wider than the year-ago loss of $1.15 per share. Arctic Cat Inc. (ACAT) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompany Revenues for the quarter increased 22.7% year over year to $121.4 million. However, the figure missed the Zacks Consensus Estimate of $137 million. The year-over-year improvement in the top line was driven by new 2017 early-year model ATV/ROV product shipments to dealers and initiatives to decrease inventory.The company incurred gross loss of $63,000 in the fourth quarter of fiscal 2016 compared to loss of $1.3 million in the year-ago period. Operating loss was $27.5 million compared to $29 million recorded in the fourth quarter of fiscal 2015.Fiscal 2016 PerformanceArctic Cat posted a loss of 71 cents per share for fiscal 2016, significantly wider than the Zacks Consensus Estimate of a loss of 27 cents. Revenues for fiscal 2016 decreased 9.4% to roughly $632.9 million from $698.8 million in fiscal 2015. Revenues also lagged the Zacks Consensus Estimate of $651 million.Segment ResultsRevenues from the Snowmobile segment improved 42.9% to $7.5 million from $5.3 million in the prior-year quarter.Revenues from Arctic Cat’s all-terrain vehicles (ATVs) and side-by-side recreational off-highway vehicles (ROVs) business surged 38% to $92.2 million. The improvement was driven by shipments of Arctic Cat’s new 2017 early-year ATV/ROV models in Feb 2016. Notably, this is part of Arctic Cat’s aggressive new product development plans.Revenues from the parts, garments and accessories (PG&A) business decreased 19.3% to $21.7 million. The decline was due to a drop in sales of snowmobile related items resulting from lower-than-expected snowfall and unfavorable foreign currency translation.Financial AgreementsArctic Cat amended its senior secured revolving credit agreement in Mar 2016. The amendment has extended and increased the company’s prior senior secured revolving credit agreement. Now the company can borrow up to $130 million from May through November, and up to $75 million during all other months of the year. The new agreement will expire in Mar 2021.Financial PositionArctic Cat had cash and cash equivalents of $17.7 million as of Mar 31, 2016, compared with $40.3 million as of Mar 31, 2015.OutlookArctic Cat expects revenues in the range of $635−$655 million for fiscal 2017. The company anticipates the bottom line in fiscal 2017 to range from loss of 39 cents to earnings of 8 cents per share. Results will be adversely affected by foreign currency translation.In the first half of fiscal 2017, net sales are expected to decline 8%−12% as the company will be focusing on inventory management and prepare for the launch of new products. In the second half of fiscal 2017, the company will benefit from new product launches.Zacks RankArctic Cat currently carries a Zacks Rank #5 (Strong Sell).Some better-ranked automobile stocks include Lear Corp. LEA, Superior Industries International, Inc. SUP and Oshkosh Corporation OSK. All the three stocks sport a Zacks Rank #1 (Strong Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SUPERIOR INDS (SUP): Free Stock Analysis Report LEAR CORPORATN (LEA): Free Stock Analysis Report OSHKOSH CORP (OSK): Free Stock Analysis Report ARCTIC CAT INC (ACAT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research