UPDATE 1-Polaris raises outlook for third time
* Third-quarter earnings $1.33/share vs est $1.20
* Revenue $879.9 mln vs est $830.5 mln
* Sees full-year earnings $4.32-$4.37/share
* Expects full-year revenue to rise 19-20 pct
* Third-quarter North American retail sales up 10 pct
Oct 18 (Reuters) - All-terrain vehicles maker Polaris Industries Inc reported better-than-expected quarterly results due to strong sales in North America and raised its full-year forecast for the third time.
The company now expects 2012 earnings of $4.32 to $4.37 per share, higher than its prior forecast of $4.05 to $4.15.
Polaris, which also makes snowmobiles and motorcycles, forecast a 19 to 20 percent rise in 2012 revenue, up from its previous expectation of a 14 to 17 percent rise.
North American retail sales rose 10 percent in the third quarter and the company recorded double-digit sales growth in each of its product lines.
Sales of the company's off-road vehicles, which are used in sports such as fishing and hunting as well as on farms, ranches and construction sites, rose 18 percent to $573 million.
Polaris's on-road vehicle business, which sells motorcycles under the Victory and Indian brands, rose nearly 80 percent to $63.4 million.
Polaris competes with Harley-Davidson Inc, Honda Motor Co, Yamaha Motor Corp, Suzuki Motor Corp and Arctic Cat Inc.
Polaris's profit rose 40 percent to $94.3 million, or $1.33 per share, in the quarter ended Sept. 30. Revenue increased 21 percent to $879.9 million.
Analysts had expected a profit of $1.20 per share on revenue of $830.5 million, according to Thomson Reuters I/B/E/S.
Shares of Minneapolis-based Polaris, which has a market value of about $5.80 billion, closed at $85.28 on Wednesday on the New York Stock Exchange.
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