Tuesday, August 4th23.9°C
27162
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




Recent Trending




Today's Market
S&P TSX14491.05+22.32
S&P CDNX589.88-4.43
DJIA17550.69-47.51
Nasdaq5105.55-9.84
S&P 5002093.32-4.72
CDN Dollar0.7580-0.0002
Gold1085.10-5.60
Oil46.37+0.24
Lumber258.60-0.10
Natural Gas2.841+0.001

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.40-0.02
Cantex0.04+0.00
Anavex Life Sciences1.46+0.33
Metalex Ventures0.05+0.00
Russel Metals19.39-0.01
Copper Mountain Mining0.80+0.01
Colorado Resources0.085+0.020
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.08-0.02
Decisive Dividend Corp2.55+0.05

 





FEATURED Property
23279803231 Vineyard View
5 bedrooms 4 baths
$1,398,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Mortgage policy changes?

There are rumours circulating again that the federal government may move to tighten mortgage insurance criteria. This is prompted by a recent article in the Financial Post. The housing market while b...


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...

_



26376

26370


Member of BC Press Council


26916