Mexican Media Brands
Harley-Davidson Quarterly Profit Shrinks One-Third
Harley-Davidson Inc.'s net income slumped to $71 million in the fourth quarter of 2012 from $106 million in the same period a year earlier.
#economics
Share
Harley-Davidson Inc.'s net income slumped to $71 million in the fourth quarter of 2012 from $106 million in the same period a year earlier. Revenue slid 2% to $1 billion.
The company attributes much of the earnings decline to a production upgrade at its main assembly plant that cut motorcycle shipments 7% to 47,100 units.
For the full year, Harley's net profit rose 4% to $624 million despite $29 million in restructuring charges. Revenue grew 6% to $4.9 billion on a 6% increase in shipments to 247,600 motorcycles.
The company's operating income from financial services climbed 11% to $285 million in 2012.
Harley says its factory upgrade will enable it to boost shipments by as much as 6% to 264,000 motorcycles this year. That forecast includes a 10%-18% jump to as many as 76,000 units in the current quarter. The company expects to save $305 million this year from its restructuring actions since 2009.
RELATED CONTENT
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.