Harley-Davidson Reports Q3 2011 Results
As expected, Harley-Davidson reported a net income of $183.6 million over the third quarter ended Sept. 25, 2011, a 106% increase from the $88.8 million reported in the same quarter of 2010.
Harley-Davidson reported sales revenue of $1.23 billion, a 13.4% increase from the $1.09 billion reported in the same quarter of 2010. Operating income from sales totaled $180.7 million, a year-on-year increase from $101.5 million.
“Two years ago we embarked on our strategy to focus solely on the Harley-Davidson brand, provide the flexibility required in today’s market and make Harley-Davidson lean, agile and more effective than ever at delivering remarkable products and extraordinary customer experiences. Today, we continue to see the positive results of the course we have charted,” says Keith Wandell, president and chief executive officer of Harley-Davidson. “The changes underway in manufacturing, product development and retail capability will increasingly enable Harley-Davidson to be customer-led like never before.”
Unit sales were up 5.1% worldwide to 61,838 units. U.S. sales grew at an even higher pace at 5.4% with Americans scooping up 42,640 units over the quarter. By comparison, the Motorcycle Industry Council reports a 3.7% growth in registrations for street-legal motorcycles over 651cc over the third quarter.