Newspaper article The Canadian Press

BRP Shares Hit All-Time High on Record First Quarter Results and Raised Outlook

Newspaper article The Canadian Press

BRP Shares Hit All-Time High on Record First Quarter Results and Raised Outlook

Article excerpt

BRP shares hit all-time high on record Q1

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VALCOURT, Que. - Recreational vehicle maker BRP Inc. shares hit an all-time high Thursday after it posted record results in the first quarter that prompted it to boost the outlook for the coming fiscal year.

The Quebec-based company's shares hit $62.08 before falling slightly to close at $60.40, up $3.33 or 5.8 per cent in Thursday trading on the Toronto Stock Exchange.

The company that makes snow machines, Sea-Doos, Can-Am off-road vehicles and Spyder three-wheel motorcycles beat expectations as its net income grew on a 16 per cent growth in revenues.

BRP earned $13.3 million attributable to shareholders for the period ended April 30, reversing a $5.1 million loss a year earlier.

Excluding one-time items, it earned $53.5 million or 52 cents per diluted share. …

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