Saturday, July 4th25.4°C
26932
22748

Harley-Davidson 4Q earnings rise 6.8 per cent as motorcycle sales grow worldwide

MILWAUKEE - Harley-Davidson's fourth-quarter earnings rose 6.8 per cent as motorcycle sales continued to rise worldwide.

The Milwaukee company says global sales of new motorcycles grew 5.7 per cent in the quarter and 4.4 per cent for the full year as buyers responded to its new model lineup.

Harley-Davidson posted fourth-quarter net income of $75.4 million, up from $70.6 million a year ago.

That's 34 cents per share, compared with 31 cents in the last quarter of 2012. Revenue rose 2.1 per cent to $1.03 billion.

The company beat Wall Street's earnings expectations for the quarter. Analysts polled by FactSet expected 33 cents per share, on motorcycle revenue of $1.04 billion.

For the full year, Harley's profit rose 17.6 per cent to just under $734 million, or $3.28 per share. Revenue was $5.26 billion.

The annual performance also beat Wall Street estimates. Analysts expected earnings of $3.27 per share on revenue of just under $5.26 billion.

Harley predicted strong growth in global motorcycle shipments for 2014, up 7 per cent to 9 per cent to a range of 279,000 to 284,000. First-quarter shipments are expected to be 76,500 to 81,500, up from 75,222 a year earlier. Harley expects capital spending this year of $215 million to $235 million.

The company said it completed restructuring activities in 2013, realizing a benefit of $2.1 million for the year. It has spent $479 million on restructuring in its motorcycles business since 2009, and the measures saved the company $310 million last year. It expects recurring annual savings from restructuring of about $320 million, starting this year.

"We believe we are well-positioned to leverage our momentum, expand our reach among new and existing customers, and further strengthen Harley-Davidson's position as one of the world's leading brands," Chairman and CEO Keith Wandell said in a statement Thursday.

The Canadian Press


Read more Business News

24947


Recent Trending




Today's Market
S&P TSX14682.39+44.40
S&P CDNX670.58-1.00
DJIA17730.11-27.80
Nasdaq5009.21-3.91
S&P 5002076.78-0.64
CDN Dollar0.7955-0.0018
Gold1167.10+4.10
Oil56.20-1.41
Lumber288.50+0.40
Natural Gas2.77-0.05

 
Okanagan Companies
Pacific Safety0.17+0.00
Knighthawk0.010.00
QHR Technologies Inc1.52-0.03
Cantex0.035-0.015
Anavex Life Sciences0.455+0.004
Metalex Ventures0.075+0.010
Russel Metals22.78-0.09
Copper Mountain Mining1.17+0.03
Colorado Resources0.09+0.03
ReliaBrand Inc0.006+0.000
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.50

 





FEATURED Property
19786192740 Dubbin Road
4 bedrooms 6 baths
$1,385,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...


TFSA strategies

Photo: Thinkstock.comThe federal government has increased the annual contribution limit of Tax-Free Savings Accounts (TFSA) to $10,000. Going forward, the annual limit will no longer be indexed to inf...

_



26376




Member of BC Press Council


26708