Polaris Industries reported a record net profit of $227.6 million for 2011. Polaris’ on-road arm, which consists primarily of Victory Motorcycles saw a 79% year-on-year increase in sales.
Sales from on-road vehicles, including Victory and Indian motorcycles as well as small electric vehicles from the newly-acquired GEM and Goupil brands, totaled $146.3 million in 2011, compared to just $81.6 million in 2010.
“Our record fourth quarter results were a fitting ending to a year in which we generated record annual sales and earnings and significantly exceeded our initial expectations,” says Scott Wine, Polaris’ Chief Executive Officer. “Our top and bottom-line expansion, and the momentum we are sustaining throughout our business, directly results from our focus on driving innovation, enhancing our product offering, reducing costs, and growth through new global markets and adjacencies.”
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