Motorcycle maker Harley-Davidson Inc. is riding high after posting a record
first-quarter revenue in 2006.
Revenue for the quarter rose 4% to $1.29 billion from $1.24 billion a year
earlier. The company reported a modest profit gain of 3.2% to $234.6 million
from $227.2 million. The company shipped 79,506 motorcycles in the first
quarter, a 3.6% increase over the same period last year. The company also was
helped by strong international sales, which increased 11.6% over the last
fiscal first quarter.
"Harley-Davidson is off to an excellent start for 2006, having achieved record
revenue and earnings," said Jim Ziemer, president and CEO, in an April 12
statement. "In addition, our dealers continued their retail sales growth
momentum from the second half of 2005 as motorcycle sales increased by
approximately 7% worldwide in the first quarter. With increased seasonality in
our business, we are pleased with this retail sales performance."
For the remainder of the year, the company is targeting unit growth between 5%
and 9% and an increase in earnings per share between 11% and 17%.
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