ARCTIC CAT INC (ACAT) [Rocket]

In millions, except per share items	Mar-31-16	Mar-31-15	Mar-31-14	Mar-31-13	Mar-31-12	Mar-31-11	Mar-31-10	Mar-31-09
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Net sales
Net sales	632.9	698.8	730.5	671.6	585.3	464.7	450.7	563.6
Net sales growth	-9.4%	-4.3%	8.8%	14.7%	26.0%	3.1%	-20.0%	-9.3%
Cost of goods sold
Cost of goods sold	542.2	579.3	579.4	520.7	454.6	363.1	367.5	480.4
Gross profit	90.7	119.4	151.1	150.9	130.6	101.5	83.2
Gross margin	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Operating expenses
Selling and marketing	43.7	39.7	38.0	37.4	36.5	33.5	33.9
Research and development	27.2	24.3	24.0	20.7	17.9	15.0	12.9
General and administrative	36.0	48.9	28.6	32.1	30.3	34.8	35.0
Total operating expenses	106.9	112.9	90.6	90.2	84.7	83.4	81.9
Operating profit (loss)	-16.2	6.5	60.5	60.7	45.9	18.1	1.3
Operating margin	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Other income (expense)
Interest income	0.0	0.0	0.0	0.0	0.1	0.1	0.0
Interest expense	-0.8	-0.4	-0.1	-0.1	0.0	0.0	-0.3
Total other expense	-0.8	-0.3	-0.1	0.0	0.1	0.1	-0.2
Earnings (loss) before income taxes	-17.0	6.2	60.4
Income tax expense (benefit)	-7.9	1.3	21.0	20.9	16.0	5.2	-0.8
Net earnings (loss)	-9.2	4.9	39.4	39.7	29.9	13.0	1.9

Net earnings (loss) per share
Basic	($0.71)	$0.38	$2.97	$3.02	$1.79	$0.71	$0.10
Diluted	($0.71)	$0.38	$2.90	$2.89	$1.72	$0.70	$0.10

Weighted average shares outstanding
Basic	13.0	12.9	13.3	13.2	16.7	18.2	18.2
Diluted	13.0	13.1	13.6	13.8	17.5	18.5	18.3