|
Motorcycle and related product revenue rose 12 percent to $1.03 billion, slightly higher than average analysts' predictions of $1.01 billion. Retail sales of new motorcycles grew 11 percent worldwide and included a 12 percent increase in the United States. International sales rose 9.7 percent and included a 5.8 percent increase in Europe, where consumer confidence has been shaken by the current economic crisis. Harley shipped 50,730 motorcycles to dealers and distributors during the quarter, compared with 44,481 in the same quarter last year. For the full year, shipments rose 11 percent to 233,117 bikes. Revenue from parts and accessories increased 7.9 percent to $161.2 million, while revenue from general merchandise, such as clothes and accessories jumped 13 percent to $69.3 million. Harley's financial services division also got a boost from improved credit conditions. New motorcycle loans jumped 14 percent to $349.5 million and represented about half of the company's retail sales. Harley said it wants to reduce its inventories and bring its production closer to demand. As a result, it expects to ship between 240,000 and 245,000 motorcycles this year, representing an increase of just 3 percent to 5 percent over 2011. For the first quarter, Harley said it expects to ship between 58,000 and 63,000 motorcycles. For all of 2011, Harley reported net income of $599.1 million, or $2.33 per share, up from $146.5 million, or $1.11 per share, in 2010. Motorcycle and related product revenue increased to $4.66 billion from $4.18 billion. Harley-Davidson shares rose 80 cents, or 1.9 percent, to $42.67 in midday trading Tuesday.
[Associated
Press;
Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor