Polaris posts higher profit, raises full-year forecast again
July 23 (Reuters) - Polaris Industries Inc reported a higher second-quarter profit on Tuesday and raised its outlook for the full year, citing strong sales of its all-terrain vehicles and other power sports products in North America.
The Minneapolis-based company, which also makes snowmobiles and motorcycles, said it earned $80 million, or $1.13 a share, up from $69.8 million, or 98 cents a share, a year earlier.
Sales rose 12 percent to $844.8 million.
Polaris said retail sales to consumers in North America rose 11 percent, offsetting what it called "sluggish international consumer demand."
The company, which had already raised its earnings outlook in April, increased it once again on Tuesday. Polaris said it expected to post a full-year profit of $5.20 to $5.30 a share, up from the most recent forecast of $5.05 to $5.20.
- Ukraine forces kill up to five rebels, Russia starts drill near border |
- Boy and girl on Korean ferry drowned with life jackets tied together |
- Children's corpses reveal desperate attempts to escape Korean ferry |
- Apple's China success sets stage for iPhone 6, new products
- Zimmer to buy Biomet for $13.35 billion in latest consolidation