Harley-Davidson Reports Second Quarter Profit Up 10% image

Harley-Davidson’s profit during the second quarter increased 10%, due to the aggressive expansion in emerging markets and revamped models.

Last month Harley-Davidson opened a new dealership in Salvador, Brazil, representing the 104th dealership opened since 2009. This means that the company has accomplished its goal of opening between 100 and 150 dealerships globally, US not included, by 2014. Global sales increased 5.2% and deliveries in the US were up 4.4% to 58,241 units.

“During the second quarter, we completed our first year of seasonal surge production at York with great success,” said CEO and Chairman Keith Wandell. “We also surpassed a milestone for international dealership growth.”

During the second quarter the company reached a profit of $271.7 million ($1.21 per share) compared with $247.3 million ($1.07 per share) during the same period last year, surpassing analysts’ expectations of $1.17 per share. Revenue from motorcycle was up 4% to $1.63 billion, compared with $1.57 billion in 2012, while global sales volumes jumped 5% to 90,193 new bikes.

Harley-Davidson said that it still plans to reach its global sales target of between 259,000 to 264,000 motorcycles by the end of this year. Deliveries in the third quarter are expected to be somewhere between 51,000 and 56,000 units, from 52,793 units in 2012.

Source: freep.com