from a release
For the 2011 second quarter, Harley-Davidson's U.S. retail sales jumped 7.5 percent, which equates to a total of 53,599 new motorcycles retailed through the OEM's U.S. dealerships. This increase marks the first year-over-year quarterly rise in new U.S. sales since the fourth quarter of 2006.
In their second quarter announcement Tuesday Motor Co. officials also reported the the company expects to ship between 228,000 and 235,000 new motorcycles to dealers and distributors worldwide, an increase of 8 percent to 12 percent compared to 2010 shipments.
“While we are pleased by Harley-Davidson’s second-quarter results, including the strong jump at retail in the U.S., our focus remains squarely on sustaining this progress through the ongoing implementation of our business strategy," said Keith Wandell, Harley-Davidson's president and CEO. "Through the transformation to best-in-class manufacturing, product development and retail capabilities, we are positioning Harley-Davidson to be customer-led in all we do. Our employees, dealers and suppliers deserve tremendous credit for their dedication to making customers’ dreams a reality by delivering remarkable products and extraordinary customer experiences."
Income from continuing operations in the second-quarter 2011 rose 36.8 percent to $190.6 million compared to income of $139.3 million from continuing operations in the year-ago quarter. Second-quarter 2011 earnings results were led by operating income from the Motorcycles and Related Products, which grew 39.2 percent to $219.8 million on higher shipment volume and operating margin improvement. Operating income from the Financial Services grew 34.9 percent, compared to the second quarter of 2010.
Revenue from motorcycle P&A totaled $255.4 million during the quarter, up 10.2 percent. Revenue from general merchandise, which includes MotorClothes Apparel and Accessories, was $72.9 million, up 8.2 percent from the same period in 2010.
On a worldwide basis, second-quarter retail Harley-Davidson new motorcycle sales grew 5.6 percent compared to last year’s second quarter. Retail sales of 29,797 new motorcycles in international markets in the second quarter marked an increase of 2.4 percent compared to the year-ago period. Industry-wide U.S. heavyweight new motorcycle (651cc-plus) retail unit sales increased 4.2 percent in the second quarter of 2011 compared to the year-ago period.
The Financial Services segment recorded operating income of $82.0 million in the second quarter, compared to operating income of $60.8 million in the year-ago quarter. The increase in year-over-year operating income was largely the result of continued improvement in credit performance
posted by Dennis Johnson
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