Polaris: ATV sales down but net income up in first quarter
April 13, 2007
Filed under Features
Polaris Industries Inc. was able to overcome a decrease in ATV sales to post a larger net income in its 2007 first quarter compared to the previous year.
Company officials reported a first-quarter net income of $12.6 million — a 12 percent increase over 2006.
Aiding the improved net income for the 2007 first quarter were increased sales in snowmobiles (14 percent over last year’s first quarter), parts, garments and accessories (6 percent) and Victory motorcycles (5 percent).
Polaris’ CEO Tom Tiller said the company’s ATV sales were down because dealers are continuing to lower their inventories.
Read more about Polaris’ first quarter in the April 23 edition of Powersports Business.