Harley-Davidson 3Q profits more than double, led by higher sales in US

October 18, 2011 5:24 AM0 commentsViews: 14

Harley-Davidson 3Q profits more than double, led by higher sales in US

MILWAUKEE – Harley-Davidson’s third-quarter profit more than doubled as the motorcycle maker’s sales rose in the U.S. and worldwide.

The Milwaukee company said Tuesday that it earned $183.6 million, or 78 cents per share, up from $88.8 million, or 38 cents per share, a year earlier.

Sales of new motorcycles grew 5.1 per cent worldwide during the quarter, led by a 5.4 per cent increase in the U.S., Harley’s largest market.

Revenue from bike sales and related products rose 13.4 per cent to $1.23 billion.

Analysts polled by FactSet expected earnings of 76 cents per share.

Harley held its motorcycle shipment forecast steady for 2011 despite the shaky economy. It expects to ship between 228,000 and 235,000 new bikes worldwide. That would reflect an increase of 8 per cent to 12 per cent over 2010 levels.

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