Harley earnings slide

Milwaukee-based Harley-Davidson Inc. today reported third quarter net income of $150.1 million, or 69 cents per share, down from $162.7 million, or 73 cents per share, in the same period a year ago.

The company’s quarterly consolidated revenue shrunk to $1.30 from $1.34 billion a year earlier.

“Harley-Davidson’s third-quarter financial results were in line with our expectations, and we are on track for a year of growth and strong financial performance in 2014,” said Harley-Davidson chairman, president and chief executive officer Keith Wandell. “We continue to see the success of our product, manufacturing and retail strategies, which are delivering an outstanding customer experience, driving bottom-line improvement and expanding the reach of the brand.”

Dealers worldwide sold 73,217 new Harley-Davidson motorcycles in the third quarter of 2014, compared with 70,517 motorcycles in the year-ago quarter This year, U.S. dealers sold 50,167 new Harley-Davidson motorcycles in the third quarter, up 3.4 percent compared to sales of 48,529 motorcycles in the year-ago period.

“With the successful launch of the 2015 motorcycles in late August, including the return of the Road Glide models, and the outstanding efforts of our dealers, third-quarter retail Harley-Davidson motorcycle sales topped the strong growth of the year-ago quarter. A rebound in Sportster motorcycle sales from this year’s second quarter and increased availability of the Street 750 and Street 500 motorcycles also contributed to these positive results,” Wandell said.

Harley-Davidson continues to expect to ship 270,000 to 275,000 motorcycles to dealers and distributors worldwide in 2014, an approximate 3.5 percent to 5.5 percent increase from 2013.

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