Polaris reported earnings of $63.9 million, or 90 cents per share, up from $54.5 million, or 78 cents per share, during the same quarter in 2010.
For the full year, Polaris earned $227.6 million, or $3.20 per share, up from id="mce_marker"47.1 million, or $2.14 per share 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," said 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."
Polaris expects the growth to continue in 2012. Chief Financial Officer Michael Malone told Reuters that he expects 5% to 8% growth.
"The implementation of our strategic initiatives and continued focus on innovation positions us well to realize continued success in 2012," Wine said. "We anticipate further growth and market share gains in our core businesses, while maintaining our focus on expanding our gross and net margins while expanding our investments for future growth and profitability. This motivated and disciplined Polaris team is committed to executing on our strategy in an effort to deliver what we expect to be another excellent year for our shareholders."
Harley-Davidson, one of Polaris' biggest competitors in the motorcycle market, also posted a strong fourth quarter.