Harley revenue up, shipments down

Milwaukee-based Harley-Davidson Inc. reported second quarter net income of $354.2 million, or $1.62 per share, up from $271.7 million, or $1.21 per share, in the second quarter of 2013.

Revenue was $1.8 billion, up from $1.6 billion in the same period a year ago.

Dealers sold 90,218 motorcycles worldwide in the second quarter, up from 90,193 in the second quarter of 2013. U.S dealer sales were 58,225, down from 58,241 in the same period a year prior, which the company attributed to a prolonged harsh winter. As a result, the company has lowered its new motorcycle shipment guidance for the full year. It previously planned to ship 279,000 to 284,000 motorcycles to dealers worldwide, but now plans to ship 270,000 to 275,000 bikes.

Higher motorcycle shipments and higher gross margin contributed to a 32.3 percent increase in operating income from motorcycles and related products, to $473.3 million. And revenue from motorcycles also grew, up 16.2 percent to $1.5 billion.

“Harley-Davidson’s second-quarter results reflect the financial strength of the company and brand, including the benefits of continuous improvement throughout our operation,” said Keith Wandell, chairman, president and chief executive officer. “As a customer-led organization, our employees, dealers in 90 countries and suppliers are focused every day on providing outstanding products and experiences for customers around the world.”

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