Harley earnings up on shipments, efficiencies

Milwaukee-based Harley-Davidson, Inc. today reported first quarter net income of $265.9 million, or $1.21 per share, up from $224.1 million, or 99 cents per share, in the first quarter of 2013.

Consolidated evenue was $1.73 billion, up 9.9 percent from $1.57 billion in the same period a year ago.

The global motorcycle manufacturer attributed the increase to higher shipments of motorcycles and improvements in operating efficiencies.

“Harley-Davidson delivered gains on many fronts in the first quarter, with shipments up 7.3 percent, strong margin improvement and solid growth in dealer new motorcycle sales,” said Keith Wandell, chairman, president and chief executive officer of Harley-Davidson, Inc.

Dealers sold 57,415 new motorcycles across the world in the quarter, up from 54,254 in the year ago quarter.

“Our dealers had a solid quarter of retail motorcycle sales,” Wandell said. “Sales in the Asia Pacific region were up strongly, and we are encouraged by the continued growth of new Harley-Davidson motorcycle sales in Europe. We’re also excited to be entering the heart of the retail selling season in the U.S., having achieved first-quarter retail growth of 3 percent in the midst of a long, cold winter.”

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