Harley reports fourth quarter profit

Added on Tuesday, January 24th, 2012 by Carole Nash Editor | No Comments

Harley-Davidson has reported an increase in profits for the fourth quarter of 2011 - reversing the losses of 12 months ago.

The iconic American manufacturer, which has undergone a number of restructuring and cost cutting measures over the past two years, has reported fourth quarter sales of $105.7m worldwide.

The figure compares with the company’s loss of $46.8 million for the same period last year.

Revenue rose 12% to $1.03 billion as retail sales of new motorcycles grew 11% worldwide. Analysts expected $1.01 billion in revenue.

In 2012, the Milwaukee-based company expects to ship between 240,000 and 245,000 Harley-Davidson motorcycles, a between 3% and 5% increase over 2011 levels.

“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,” President and Chief Executive Officer Keith Wandell said.

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