Oct. 22--Harley-Davidson earnings and dealer new motorcycle sales rose sharply in the third quarter of 2013, compared to the year-ago period.
Diluted earnings per share increased 23.7 percent to 73 cents, primarily on strong operating results in the motorcycles segment, including higher motorcycle shipments and gains in plant operating efficiencies, compared to the year-ago period. Third-quarter net income was $162.7 million on consolidated revenue of $1.34 billion, compared to net income of $134 million on consolidated revenue of $1.25 billion in the year-ago period.
Worldwide retail sales of new Harley-Davidson motorcycles increased 15.5 percent in the quarter, including a 20.1 percent increase in the U.S., compared to last year's third quarter.
Through nine months, Harley-Davidson net income was $658.6 million on consolidated revenue of $4.71 billion, compared to net income of $553.3 million on consolidated revenue of $4.41 billion in the year-ago period. Nine-month 2013 diluted earnings per share were $2.93, up 22.1 percent compared to $2.40 in the year-ago period.
Dealers worldwide sold 70,517 new Harley-Davidson motorcycles in the third quarter of 2013, compared to 61,053 motorcycles in the year-ago quarter. In the U.S., dealers sold 48,529 new Harley-Davidson motorcycles in the quarter, up 20.1 percent, compared to sales of 40,402 motorcycles in the year-ago period. In international markets, dealers sold 21,988 new Harley-Davidson motorcycles during the third quarter,
up 6.5 percent compared to 20,651 motorcycles in the year-ago period.
Retail sales were driven by strong double-digit growth in the sale of touring motorcycles following the third-quarter launch of the company's Project Rushmore line of revamped motorcycles.
For the full financial report, click here.
Harley-Davidson will discuss third-quarter results on a Webcast at 9 a.m. today.
The webcast presentation will be posted prior to the call and can be accessed at this website.
Click "Events and Presentations" under "Resources."
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