business
Polaris Q4 sales up 31 percent
- Updated: January 27, 2011 - 8:48 AM
All products lines contributed to the gains, led by a sharp rise in off-road vehicle sales.
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Polaris Industries Inc. Thursday reported that higher sales of all its products - snowmobiles, off-road vehicles and Victory motorcycles - fueled a 31 percent increase in revenue for its fourth quarter.
The Medina-based company record sales of $618.4 million for the quarter ended Dec. 31. Earnings totaled $54.5 million, or $1.55 a share, compared with $43.9 million, or $1.31 a share, for the same period a year earlier.
Sales of off-road vehicles increased 40 percent, while snowmobile sales rose 28 percent and motorcycle sales increased 8 percent.
For the year Polaris reported earnings of $147.1 million, or $4.28 a share, versus $101.0 million, or $3.05 a share a year earlier. Sales for the full year totaled nearly $2 billion an increase of 27 percent.
Polaris said its 2011 earnings per share are expected to be in the range of $4.65 to $4.85, up 13 percent from 2010. Sales in 2011 are expected to increase 8 percent to 11 percent.
SUSAN FEYDER
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