Polaris Reports Record Financial Results Again

Showing strength across all product lines Polaris Industries reported record fourth quarter and full year profits on Wednesday.  For the fourth quarter sales increased 26% from 4Q 2010 to $782.0 million and for the full year sales increased 33% from 2010 to $2,656.9 million. Other full year highlights include:

  • Increased market share for all product lines
  • 39% increase in international sales
  • Net income of $227.6 million – 55% more than 2010.
Their Off-Road Vehicle (ORV) segment increased sales 32% over 2010 to $1.82 billion.  The segment includes ATVs and side-by-sides.  Management reports ATV unit retail sales growing upper single digits percent and side-by-side vehicle unit retail sales increasing about 20 percent over the prior year.  Polaris continues to gain market share in each segment.  Learn more:  Marketwatch.com
Earnings Call highlights:
  • The overall ATV market declined low double digits for 2011 while side-by-sides increased low double digits.
  • Polaris sales through their partnership with Bobcat increased 60% in 2011.
  • Polaris has discontinued their Breeze LSV in light of their GEM acquisition and production of GEMs in their Spirit Lake facility has begun.
  • Asia Pacific and Latin America are the key global markets
  • Expectations for a slower level of growth for the company and ORV sales for the coming year.
  • New products with Bobcat likely in end of 2012 or early 2013
  • Strong growth in military segment expected with sales to special forces and in unmanned technology products

 

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