3M Co. CEO Inge Thulin characterized 2012 for analysts on Thursday as "a year of preparation, progress and performance." The big manufacturer reported sales of nearly $30 billion and earnings per share that grew 6 percent to $6.32 per share.
Thulin told analysts in 2013 that "we will continue to drive our strategies, invest in innovation, commercialize new products as quickly as possible, and work to take market share everywhere."
ARCTIC CAT IS 'TAKING SHARE'
Arctic Cat Inc.'s third-quarter results on Thursday showed that off-road vehicle sales of $69.6 million came in under Feltl and Co. analyst Mark Smith's estimate, but $122.4 million in snowmobile sales more than made up for it. The company also improved its guidance for fiscal 2013.
For those reasons, Smith is maintaining his "strong buy" rating on Arctic Cat. Total sales for the third quarter were $218 million, a 5.3 percent increase over the year-ago quarter, while net income rose 4.8 percent to $17.9 million.
"We think [Arctic Cat] is continuing on a strong growth path and will continue to boost results through sales of new products. We think the company is taking share in both side-by-side and snowmobile industries," Smith wrote.