Polaris reports positive fourth quarter, full year results
January 29, 2008
Filed under Features
Polaris Industries released its fourth quarter and full year results revealing increases in both areas, according to a Polaris press release.
Fourth quarter sales showed a sales increase of 21 percent to $541.4 million compared to the prior year period of $448.6 million. The net income from continuing operations for the fourth quarter was $38 million, an increase of 5 percent from last year’s period of $36.1 million.
Like the fourth quarter, Polaris’ 2007 full year results also increased. Total sales for 2007 equaled $1.7 billion, which was up 7 percent compared to the prior year period of $1.6 billion. ATVs increased 7 percent; snowmobiles were up 14 percent; PG&A was up 9 percent and International was up 11 percent.
Polaris reported net income from continuing operations of $112.6 million or $3.10 per diluted share compared to $112.8 million, $2.72 per diluted share, for the 2006 period, which was a 4 percent increase.
Tom Tiller, Polaris CEO, says the company is content with the results. “We knew at the start of the year,” Tiller said, “we would face a challenging economy, but we also had confidence in the plan we laid out early last year.”
The company is positive about 2008 results, expecting full year 2008 sales to increase in the range of 3-5 percent.