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UPDATE 1-Polaris beats Street as inventories fall

Thu Oct 15, 2009 7:07am EDT

Stocks

   

* Q3 shr $0.94 vs $0.85 estimate

* Q3 rev down 25 pct to $436.2 mln

NEW YORK, Oct 15 (Reuters) - Polaris Industries Inc's (PII.N) quarterly earnings fell less steeply than expected and raised its outlook as the maker of all-terrain vehicles, snowmobiles and motorcycles said it won market share and cut inventories.

Third-quarter net profit was $31.2 million, or 94 cents per share, compared with $37.7 million, or $1.13 per share, during the comparable quarter last year.

Sales fell 25 percent to $436.2 million.

Analysts on average expected the Minneapolis-based company to report a profit of 85 cents a share on sales of $423.9 million, according to according to Thomson Reuters I/B/E/S.

The company raised its full year 2009 earnings guidance to a range of $2.92 to $2.98 per share, compared with its previous outlook of $2.70 to $2.90 per share.

Analysts expect Polaris to earn $2.77 per share for the year on revenue of $1.53 billion. (Reporting by Christopher Kaufman; Editing by Derek Caney)



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