Home / Knowledge / News / Apparel/Garments / Polaris Q2 net income boosts 21% to $96.9mn
Polaris Q2 net income boosts 21% to $96.9mn
23
Jul '14
Polaris Industries Inc. reported record second quarter net income of $96.9 million for the quarter ended June 30, 2014, up 21 percent from the prior year’s second quarter net income of $80.0 million.
 
Earnings per share were also a record at $1.42 per diluted share for the 2014 second quarter compared to $1.13 for the second quarter of 2013. Sales for the second quarter 2014 totaled a record $1,014.0 million, an increase of 20 percent over last year’s second quarter sales of $844.8 million. 
 
Second Quarter Highlights: 
-Net income increased 21% to $96.9 million and earnings per diluted share increased 26% to $1.42 compared to the second quarter last year with sales increasing 20% to $1,014.0 million, setting records for second quarter sales and earnings. 
-North American retail sales improved significantly, rising 15% year-over-year in the second quarter. 
-Gross profit margins increased 20 bpts over second quarter last year in spite of currency pressures. 
-Raising guidance for full year 2014 earnings to a range of $6.48 to $6.58 per diluted share, up 20% to 22% over 2013 based on expected full year 2014 sales growth of 16% to 18%. 
 
Scott Wine, Polaris’ Chairman and Chief Executive Officer, stated, “The second quarter results, our 19th consecutive quarter of record earnings performance, exemplify our commitment to delivering high quality innovative products and a first-class purchase experience that our consumers expect. Our strong financial performance in the quarter was driven by outstanding retail sales growth, up 15 percent in North America, driven by share gains in our side-by-side vehicle product line and continued growth of our Indian motorcycle business. The recently introduced Sportsman ACE further solidifies our #1 market share position in the North American ORV market and our Small Vehicle and PG&A businesses delivered impressive growth, up 29 percent and 20 percent year-over-year in the second quarter, respectively.” 
 
Wine continued, “On the heels of last year’s new product launch, which was lauded to be the largest and most groundbreaking in our Company’s history, next week we will celebrate our 60th anniversary and further enhance our innovation profile with the unveiling of our model year 2015 products for ORVs, motorcycles and the much anticipated Slingshot vehicle. Between strong demand for our existing offerings and our industry leading product innovation, we believe sales and earnings will continue to accelerate in the second half of the year, supporting our confidence and decision to again raise full year sales and earnings guidance for 2014.”
 
Click here to view full results.
 

Polaris Industries

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search