The “Other American Motorcycle Company” is doing well
Polaris has released their 4th quarter numbers, and It looks like it’s champagne time at their headquarters. Unlike Harley-Davidson, which reported yet another loss in the 4th quarter, Polaris has moved firmly into the black.
Net income for the fourth quarter 2010 was a record $54.5 million, an increase of 24 percent over the same period in 2009. Record sales of $618.4 million for the fourth quarter 2010 increased 31 percent over 2009 fourth quarter sales of $471.8 million.
For the full year ended December 31, 2010, Polaris reported record net income of $147.1 million, or a record $4.28 per diluted share, compared to $101.0 million, or $3.05 per diluted share for the year ended December 31, 2009. This represents a 40 percent increase on a per diluted share basis and a 46 percent increase in net income.
Polaris, of course, makes much more than motorcycles, but Victory certainly did its part in 2010, moving 81,624 motorcycles compared to 52,811 in 2009. That’s a 55% increase in sales, and was the largest sales increase of any of Polaris’ product lines.
Congratulations to Victory, and Polaris, who are showing real strength when most other manufacturers are still scrambling to cut losses.