Harley-Davidson ended 2011 with another good quarter. Motorcycle sales climbed 10.9 percent in the fourth quarter, and 5.9% for the year.
"Our improved performance in 2011 is the result of the tremendous efforts of all of our employees, dealers and suppliers," said Keith Wandell, President and Chief Executive Officer of Harley-Davidson, Inc.
Harley posted a profit of $105.7 million during the foruth quater. Income from continuing operations in the fourth quarter of 2011 was posted at $54.6 million, or $.24 per share. That's up from a $42.1 million loss during the same quarter in 2010. Income from continuing operations during the full year more than doubled to $581.1 million, or $2.33 a share. Up from $259.7 million in 2010.
"Harley-Davidson is all about fulfilling dreams through remarkable motorcycles and extraordinary customer experiences," said Wandell. " In 2011 we made strong progress at transforming our business to be more agile and effective than ever at exceeding customer expectations. The changes underway across the organization will enable Harley-Davidson to be world class and customer led like never before, with shorter product development lead times, flexible manufacturing and an unmatched premium retail experience."
The Washington Post reports that Harley saw product revenue rise 12% to $1.03 billion. New motorcycle sales grew 11%, which includes a 12% increase in the United States.
During the fourth quarter, Harley shipped 50,730 motorcycles to distributors and dealers, which is 6,200 more than what was shipped during the same period in 2010. General merchandise was also on the rise. Harley reported a 13% increase of accessories and clothes sales to $69.3 million.
"At retail, we believe the solid improvement in new Harley-Davidson motorcycle sales reflects the strong appeal of our product lineup to a diverse customer base and the great efforts of our dealers, combined with results from our investments in growth opportunities across all regions and improved consumer confidence in the U.S. While we are encouraged by the retail sales trend, we continue to keep a close watch on the marketplace and remain cautious in our expectations for 2012."
Harley expects the growth to continue in 2012. They made a cautious prediction, saying that they expect to increase shipments to about 240,000 motorcycles during 2012.
