PowersportsBusiness.com
You will automatically be redirected in 15 seconds. Click here to proceed.

Social Media

Polaris Net Earnings Increase

October 15, 2004
Filed under Features

Polaris Industries, Medina, Minn., reported increases in earnings from operations for the third quarter and nine-month period ended Sept. 30, 2004. All of its figures were adjusted for the closing of its Marine operation, effective Sept. 2, 2004. The company reported a loss from the disposal of these operations in the third quarter of $23.9 million, and a loss from Marine operations before taxes of $2.1 million in the third quarter and $7.9 million for the nine months.
For the third quarter, Polaris reported net income from continuing operations (without Marine) of $44.6 million, or $1.05 per share, up from $42.2 million, or 99 cents per share last year. Total net income, including the disposal charge and the loss from Marine operations of $2.1 million, was $18.5 million, down from $39.5 million last year.
For the nine months, Polaris reported earnings from continuing operations of $89.1 million, or $2.10 per share, up from $80.3 million, or $1.87 per share, last year. Net income this year including a loss of $7.9 million from Marine operations and a charge of $23.8 million for its shutdown, was $57.3 million, or $1.35 per share, down from $72.9 million, or $1.70 per share, last year.
The ATV segment was the largest revenue producer for the nine months at $843,223, up 10% from last year. Next was PG&A at $184,361, up 16%, followed by snowmobiles at $156,829, up 17%. Victory Motorcycle contributed $49,835, up 35%.

Comments

Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!