UPDATE 1-Polaris posts higher profit, raises full-year forecast

Tue Oct 22, 2013 8:57am EDT

CHICAGO Oct 22 (Reuters) - Polaris Industries Inc reported a higher-than-expected quarterly profit on Tuesday and raised its full-year earnings forecast, citing strong sales of its off-road vehicles and snowmobiles.

But the Minneapolis-based company also said sales of its motorcycles fell 6 percent during the quarter, despite the highly publicized reintroduction of the Indian brand bike.

Polaris posted a third-quarter profit from continuing operations of $116.9 million, or $1.64 a share, up from $94.3 million, or $1.33 per share, a year earlier.

The company said it now expects a full-year profit of $5.30 and $5.37 a share from continuing operations, up from a previous forecast of $5.20 to $5.30.

In premarket electronic trading, Polaris shares were little changed, down 23 cents at $135.80.

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