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
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
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.