side by side sales take Polaris to record profits

FabMan

Member
Jan 9, 2010
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Leslie, Mo.
Off-roaders power Polaris results; shares hit new high



Stocks



Polaris Industries Inc
PII.N
$110.28
+19.10+20.95%
3:02pm CDT

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Wed Apr 20, 2011 12:57pm EDT

* Q1 EPS $1.34 vs est. $0.70
* Q1 revenue up 49 pct to $537.2 mln
* Raises 2011 EPS view to $5.53-$5.68
* Sees 2011 sales up 17-20 pct
* Shares rise 27 pct to a new high (Adds analyst, conference call comments; updates share movement)
By Bijoy Anandoth Koyitty
April 20 (Reuters) - Increased spending by Americans on rugged off-road vehicles used in farms and thrill-seeking sports helped Polaris Industries Inc report its highest ever first-quarter profit and raise its outlook for the year.
The strong results pushed shares of the company up as much as 27 percent to a new life-time high. The broader Dow Jones U.S. Recreational Products Index rose 9 percent, while shares of rival Arctic Cat Inc were up 8 percent.
Polaris, which is also known for its snowmobiles and heavyweight motorcycles, attributed the performance to strong pricing that boosted gross margins and a 55 percent jump in sales of its off-road vehicles.
Off-road vehicles, which comprise all-terrain and side-by-side vehicles, are used in recreational activities as well as on farms and construction sites. They account for about 70 percent of Polaris' total revenue.
"The side-by-side segment is doing well ... better than the traditional ATV segment. On top of that, Polaris is the leading player in that segment," Longbow Research analyst James Hardiman said.
Side-by-side vehicles, also known as utility task vehicles, are off-road, four-wheel drive vehicles that can carry up to six passengers in addition to cargo.
"It is an improving economy. People are a little bit more willing to put their discretionary dollars to work," Hardiman said.
The U.S. agricultural economy is the healthiest in years as rising farm income allows farmers to pay off debt and buy land and machinery to meet booming demand for crops and livestock. [ID:nN15299410]
For 2011, Polaris expects earnings of $5.53-$5.68 a share, up from its prior view of $4.65-$4.85 a share. It expects gross margins to increase by up to 90 basis points over last year's 26.6 percent.
 

ranchmkt

From The Land Of Avacado's - UTVUnderground Approv
Sep 11, 2009
136
2
0
Fallbrook
good for them!
It's just marketing 101. "give the consumer what they want"
MORE POWER!!!
 

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