A few weeks ago the MIC released some data about motorcycle sales in The United States. The outlook was bleak. For the second year in a row motorcycle sales were in the decline. But Harley Davidson is showing one glimmering chrome piece of hope. Harley showed broad improvements from 2009, despite a slow fourth quarter.
"Harley-Davidson, Inc. (NYSE: HOG) reported full-year 2010 income from continuing operations of $259.7 million, or $1.11 per share, compared to income of $70.6 million, or $0.30 per share, from continuing operations in 2009," Harley said in a press release. "For the fourth quarter of 2010, Harley-Davidson recorded a loss from continuing operations of $42.1 million, or $0.18 per share, which includes the impact of a one-time, $85.2 million charge from the Company’s early repurchase of senior unsecured notes during the quarter."
Compared to 2009, Harley is in a pretty good place right now. There fourth quarter sales were pretty much even, although slightly less than their sales during Q4 in 2009. Sales dropped .2% in the United States, and only 1% around the globe.
“We feel good about our 2010 results,” said Keith Wandell, President and Chief Executive Officer of Harley-Davidson, Inc. “Through the hard work of a lot of very dedicated and talented employees and dealers, we have made strong progress at transforming our business to be leaner, more agile and even more effective at delivering great products and customer experiences.
“In 2010, we expanded our international footprint, saw improvement in our motorcycle segment results driven by the restructuring of our operations and returned HDFS to solid profitability. A strong, financially sound Harley-Davidson is key to our ability to invest in the business and grow. While there is still hard work ahead and we remain cautious in our outlook, I am confident that we are positioning Harley-Davidson to succeed and deliver value for all our stakeholders into the future."
Harley has been struggling, like many motorcycle manufacturers over the last couple of years, but Harley is still the number one dealer in America. In the fourth Quarter, Harley showed a 1% decrease in sales from 2009, compared to the industry wide 14.8% decrease since 2009.
“In the U.S., we are the market share leader in new on-road motorcycle sales, not only to Boomers but to young adults, women, African-American and Hispanic riders," said Wandell. "In Europe, we moved into the number two market share spot for heavyweight motorcycles in 2010. For 2011, we plan to build on our position as one of the strongest brands in the world through our continued focus on customer-led products and experiences.”
