NEW YORK, Jan 28 (BestGrowthStock) – Polaris Industries Inc (PII.N: )
reported a better-than-expected earnings increase on Thursday
as deep cost cuts outpaced declines in sales. It also said it
was gaining share in key markets.
The U.S. maker of all-terrain vehicles, snowmobiles and
motorcycles reported a fourth-quarter net profit of $43.9
million, or $1.31 per share, compared with $36.3 million, or
$1.11 per share, during the comparable quarter last year.
Sales fell 10 percent to $471.8 million. Parts, clothing
and accessories were the only segment to increase revenues.
Analysts on average expected the Minneapolis-based company
to report a profit of $1.23 a share on sales of $449.7 million,
according to according to Thomson Reuters I/B/E/S.
Minneapolis-based Polaris forecast 2010 earnings in a range
of $3.15 to $3.30 per share, which brackets analysts’ average
estimate of $3.22 per share.
Stock Research Tools
(Reporting by Nick Zieminski; Editing by Derek Caney)
UPDATE 1-Polaris beats forecasts, gains market share
