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    Polaris 4Q profit rises

    Associated Press – Wed, Jan 25, 2012

    MINNEAPOLIS (AP) — Polaris Industries Inc. said Wednesday its fourth-quarter profit rose 17 percent, as sales of its off-road vehicles, snowmobiles and motorcycles increased.

    The Minneapolis-based company earned $63.9 million, or 90 cents per share, up from $54.5 million, or 78 cents per share, in the same quarter of 2010.

    Revenue jumped 26 percent to $782 million from $618.4 million.

    The results beat Wall Street predictions. Analysts, on average, expected a profit of 88 cents per share on $751.2 million in revenue, according to a FactSet poll.

    Off-road vehicle sales increased 18 percent to $465.8 million on increased demand and market share gains. Snowmobile revenue jumped 63 percent to $169.2 million, as dealers boosted their orders to replenish depleted inventories.

    Sales of on-road vehicles, which include the company's Victory and Indian brand motorcycles, grew 69 percent to $34.9 million, as a result of market share gains, boosting dealer inventories and a jump in international demand.

    For the full year 2011, Polaris earned $227.6 million, or $3.20 per share, up from $147.1 million, or $2.14 per share. Revenue rose to $2.66 billion from $1.99 billion.

    The company expects to post a 2012 profit of $3.65 to $3.80 per share on a sales increase of 5 to 8 percent. Based on the company's 2011 sales, the guidance projects 2012 sales between $2.8 billion and $2.88 billion.

    Analysts polled by FactSet expect 2012 profit of $3.77 per share on $2.93 billion in sales.

    Polaris shares fell $2.84, or 4.5 percent, to$59.85 in Wednesday morning trading.

     

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