Sunday, November 23rd0.2°C
24124
24056

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 TSX15111.13+35.95
S&P CDNX789.135.56
DJIA17810.0691.06
Nasdaq4712.97+11.102
S&P 5002063.50+10.75
CDN Dollar0.8901-0.0002
Gold1201.50+10.60
Oil76.72+0.87
Lumber331.50+4.50
Natural Gas4.236-0.253

 
Okanagan Companies
Pacific Safety0.155-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.30+0.03
Cantex0.04+0.005
Anavex Life Sciences0.178+0.008
Metalex Ventures0.03+0.005
Russel Metals31.62+0.82
Copper Mountain Mining2.24+0.06
Colorado Resources0.125-0.015
ReliaBrand Inc0.013-0.002
Sunrise Resources Ltd0.050.00
Mission Ready Services0.35+0.015

 
24130


23967

FEATURED Property
2121586Open House Sat. Nov 22, 10:00 - 1:00 Bright and Spacious Townhome
$219,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...


Be quiet already!

No, you’re not crazy. There really are voices in your head. Voices that keep you from doing what you need to do during your customer care calls. It can be the voice of your teachers, your parent...

_



24119

24156


Member of BC Press Council


22842