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Harley-Davidson Q1 revenue up 11%
The net income for the first quarter of 2008 was $187.6 million compared to $192.3 million in the first quarter of 2007, a decrease of 2.5%. The first quarter diluted earnings per share were $0.79, a 6.8% increase compared to $0.74 in the same period of 2007.
The revenue from Harley-Davidson motorcycles was $1.02 billion, an increase of $125.7 million or 14.1% versus the same period last year. Shipments of Harley-Davidson motorcycles totaled 71,868 units, an increase of 4,107 units or 6.1% compared to last year's first quarter.
During the first quarter, worldwide retail sales of Harley-Davidson motorcycles decreased 5.6% compared to the prior year quarter. In US, retail sales of Harley-Davidson motorcycles decreased 12.8% for the quarter while the heavyweight motorcycle industry in the US decreased 14%. The company expects to ship between 76,000 and 80,000 Harley-Davidson motorcycles in the second quarter of 2008.
Jim Ziemer, CEO of Harley-Davidson, said: "With growing weakness in the economy, US retail sales of Harley-Davidson motorcycles were down 12.8% in the first quarter. Although these retail results are disappointing, Harley-Davidson's US dealers outperformed the heavyweight motorcycle industry, which was down 14%
Watch this space for more Harley Davidson news...
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