Polaris reports EPS grows 11%, international sales up 39% in Q2
19 Jul '05
4 min read
Minneapolis based apparel & sports accessories maker Polaris Industries Inc reported record second quarter 2005 results; earnings per share from continuing operations up 11 Percent on 12 percent sales growth.
Highlights:
- 29th consecutive quarter of increased sales and earnings from continuing operations
- ATV sales grew 13%, Victory sales increased 24%, and International sales grew 39%
- The higher sales and lower operating expenses contributed to the earnings growth for the second quarter
- For the balance of 2005, anticipate continued growth in sales and earnings driven by new product introductions and continued profitable growth from international operations, and the RANGER product line
- Narrowing full year 2005 earnings from continuing operations guidance range to $3.32 to $3.42 per diluted share, a 9% to 13% increase over 2004
Polaris Industries Inc reported record net income from continuing operations of $0.68 per diluted share for the second quarter ended June 30, 2005, an 11 percent increase over the prior year's second quarter net income from continuing operations of $0.61 per diluted share. Higher sales volume from all businesses and lower operating expenses, both in terms of dollars and as a percent of sales, contributed to the second quarter earnings increase.
Reported net income from continuing operations for the second quarter 2005 was $30.1 million, a 10 percent increase over the prior year's second quarter net income from continuing operations of $27.4 million. Sales from continuing operations for the second quarter 2005 increased 12 percent to a record $442.3 million, compared to last year's second quarter sales from continuing operations of $394.6 million.
marketing@alchempro.com
