Quick Hits: April 28, 2020
Caterpillar reported a 21 percent decrease in sales and revenue for the first quarter and a 39 percent decline in profit-per-share. The company has suspended operations at some facilities due to supply-chain issues, weak customer demand or government regulation.
Polaris reported a 6 percent drop in sales in the first quarter and a net loss of $5 million. “The rapid decline in retail demand over the last two weeks of March, driven by the covid-19-related economic slowdown, significantly impacted sales and gross profit for the first quarter of 2020,” the company said in a statement.
West Marine is working with researchers to convert snorkel masks into respirators for hospitals and others in health care. “We kept seeing reports of scuba masks with the potential of being adapted into respirators, and we realized this was a real possibility to do our part during this pandemic,” CEO Ken Seipel said in a statement. The company said the devices will be distributed in the next few weeks.
