All product lines had increased sales and retail market share for the full year 2012.Off-Road Vehicle sales increased 22%, On-Road Vehicle sales increased 36% and PG&A sales increased 17% during the 2012 fourth quarter. Gross profit margins expanded 210 basis points to 28.2% in the fourth quarter due to manufacturing realignment savings, lower product costs and higher selling prices.
For the full year ended December 31, 2012, Polaris reported record net income of $4.40 per diluted share, a 38% increase compared to $3.20 per diluted share for the year ended December 31, 2011. Reported net income was $312.3 million for the full year 2012, up 37 percent from the previous year’s net income of $227.6 million. Sales for the full year 2012 totaled a record $3,209.8 million, an increase of 21 percent compared to sales of $2,656.9 million for the full year 2011.
“Our outstanding fourth quarter results concluded another successful year for Polaris, from both financial and strategic perspectives. In 2012, Polaris exceeded $3 billion in sales for the first time and operational improvements drove net income margin above 9.7%, even as we continued to invest in numerous diversification and growth opportunities,” commented Scott Wine, Polaris’ Chief Executive Officer. “We expect 2013 to be another year of profitable growth and margin expansion, although we remain wary of the fragility of the global economy, particularly in Europe, where we project our business will be down slightly. Our product development and investment activity will remain high, as indicated by our decision to approve the construction of a new European plant that will provide significant future cost reduction and growth opportunities. Between the Indian launch and the much anticipated release of our jointly developed product with Bobcat, 2013 will be an exciting year for new vehicles.”
Sales of “on road” vechicles was 47, 383 units (vehicles). Is it safe to interpret this as motorcycles?
Yes, motorcycles.
Bruce, Thanks!
Richard,
I believe that is $47,383,000.00 in sales for the quarter, not total units.
GEM electric vehicles should be included in the on-road sales as well.
blkbkr…I assumed it was units, not dollars because there is not a $ sign in front of that line on the chart. I could be wrong (I was wrong one other time about 30 years ago).
Best performing stock in my portfolio, again. Screw HD.
I love what PII has done for my retirement fund…almost as much as I love riding my Vic.
It WOULD have been my best, IF we had had enough money left over. However, Boeing , BAE, and Coca Cola, to name a few of the twelve of the individual stocks I own, have all done well. Well, except BP (bought an assload when everyone was saying they’d go under) but now that they actually know what they’re paying, I look for it to go up fairly quickly this year.
I still tease my wife about Polaris, but she says too bad so sad – I should have given her more money…
There is no way to know from the report how much Victory motorcycle sales increased 2012 over 2011 or even if they increased at all because Polaris does not break out Victory sales from on road vehicle sales or even define on-road sales. Just my 2 cents.
So why did the stock go down today ?
Like often in this situation, investors taking profits.
Yes they do define on road and off road divisions.
abqhudson is stating that they don’t break out one type of on road vehicle sales (Victory Motorcycles) from other types of on road vehicle sales and he is correct in stating so.
“or even define on road sales”. Yes they do, so he is incorrect in stating they do not.
The journey begin with a single step and 15 yrs ago they took that step
Take a look at them now !!!
Still a drop in the bucket as far as H-D is concerned,
but if I were the Mo-Co, I’d be looking over my shouders……
Inch by inch, step by step
(And even bigger steps when Indian debuts)
@Richard- “blkbkr…I assumed it was units, not dollars because there is not a $ sign in front of that line on the chart. I could be wrong (I was wrong one other time about 30 years ago).”
Congratulations. You’re wrong again. The dollar sign at the top, reappearing at the bottom, is indicative that it carries through the entire column.
47,000 means Motorcycles sold to Dealers. not the public.
“-but if I were the Mo-Co, I’d be looking over my shouders…” yep
wait till the indian is up and running.
May take a few years.
Watch out harley, selling sixty dollar jeans and 30 buck imported tee-shirts might not make it.