Wednesday 23 April 2014

Harley-Davidson Revs Up Quarterly Revenue


Harley Davidson motorcycles are an American icon

Harley-Davidson has seen its first-quarter earnings rise 18.7% amid a surge in motorcycle ownership and greater factory efficiency.
The Milwaukee-based company said global sales of new motorcycles grew 5.8% in the first three months of the year as buyers snapped up its new models.
The iconic American motorcycle manufacturer's profit result beat Wall Street estimates, with shares rising more than 7% in premarket trading.
Harley-Davidson posted net income of $265.9m (£160m), up from $224.1m (£133m) a year ago.
The company, which has developed a huge industry in bolt-on accessories and merchandise, saw strong growth in both areas.
Motorcycle and related product revenues were up 11% to $1.57bn (£932m).
The company's overall revenue, which includes financial services, was up $160m, to $1.73bn (£1.02bn).
Bike sales grew 3% in the US to 35,730 during the quarter despite a long, cold winter, but international sales, especially in Asia, helped the results.
Harley said Asia-Pacific motorcycle sales were up more than 20% to 7,178 for the quarter.
In Europe, the Middle East and Africa sales were up 8% to 9,940, while they rose 9% in Latin America to 2,558. 

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