CHICAGO, April 23 Polaris Industries Inc
, a U.S. maker of motorcycles and all-season, all-terrain
vehicles, raised its full-year revenue and profit outlooks on
Tuesday, citing a long winter that boosted snowmobile sales.
The move came as the Medina, Minnesota-based company
reported a first-quarter profit of $75.5 million, or $1.07 a
diluted share, up from $60.1 million, or 85 cents a diluted
share, last year.
Sales rose 11 percent to $745.9 million, led by a 217
percent jump in snowmobile sales, which were depressed last year
due to an unseasonable warm winter and spring in much of the
The company now expects to post full-year 2013 earnings of
$5.05 to $5.20 per diluted share, up from its previous forecast
of $4.85 to $5.05.
Analysts, on average, expected full-year EPS of $5.15,
according to Thomson Reuters I/B/E/S.
Polaris said it has seen "a degree of timidity in some
customer segments that corresponded with the payroll tax
increases that took effect at the start of the year."
It referred to consumers who faced an increase in the U.S.
tax that finances the Social Security system affecting
three-quarters of all households.
Polaris said it remained "cautious of the economic risks in
both North America and Europe" but believes sales of new
products, including its Indian-brand motorcycles and Axiam Mega
quadricyles, would fuel sales growth in the second half and
allow it to meet its raised forecast.