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NEWS
Polaris and Harley profits surge
Strong gains in the fourth quarter of 2011, setting the two American powerhouses up for a big 2012 as demand continues to increasePolaris and Harley-Davidson have both produced excellent fourth quarter results in the last quarter of 2011, announcing net incomes of $63.9 and $107 million respectively.
For Polaris, whose massive portfolio includes snowmobiles, electric vehicles, ATVs and Victory Motorcycles, the result is a 17. 1 per cent increase over the same period in 2012, buoyed by record sales of $782 million n the fourth quarter.
"Our record fourth quarter results were a fitting ending to a year in which we generated record annual sales and earnings and significantly exceeded our initial expectations,” said Scott Wine, Polaris' Chief Executive Officer.
“Our top and bottom-line expansion, and the momentum we are sustaining throughout our business, directly results from our focus on driving innovation, enhancing our product offering, reducing costs, and growth through new global markets and adjacencies.”
Meanwhile, Harley-Davidson also surged above expectations, helped by a double-digit revenue growth and the fact that it had already retired a lot of debt in 2010.
Chief Executive Keith Wandell said: "At retail, we believe the solid improvement in new Harley-Davidson motorcycle sales reflects the strong appeal of our product line-up to a diverse customer base and the great efforts of our dealers, combined with results from our investments in growth opportunities across all regions and improved consumer confidence in the US."
The company shipped 50,730 motorcycles to dealers and distributors worldwide during the quarter, compared to 44,481 motorcycles in 2011. For the first quarter of 2012, the company expects to ship 58,000 to 63,000 motorcycles.
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Written byBikesales Staff
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