The ratings on Valcourt, Que.-based Bombardier Recreational Products Inc. (BRP) reflect the volatile demand for the company's primary products, highly seasonal operating profits, and intense competition. These factors are partially offset by the company's solid market position, brand equity, and well-established dealer network. BRP manufactures motorized recreational products including: snowmobiles under the Ski-Doo and Lynx brand names, watercraft and sport boats under the Sea-Doo name, power sport engines under the Rotax name, all-terrain vehicles (ATV) and roadsters under the Can-Am name, and outboard engines under the Evinrude and Johnson names. BRP's revenues are geographically diversified, with key markets in the U.S., Canada, and Europe. The recreational products industry is highly competitive and demand is cyclical. BRP competes with well-established U.S.-
