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Polaris reports EPS grows 11%, international sales up 39% in Q2

19 Jul '05

4 min read

Minneapolis based apparel & sports accessories maker Polaris Industries Inc reported record second quarter 2005 results; earnings per share from continuing operations up 11 Percent on 12 percent sales growth.

Highlights:

- 29th consecutive quarter of increased sales and earnings from continuing operations

- ATV sales grew 13%, Victory sales increased 24%, and International sales grew 39%

- The higher sales and lower operating expenses contributed to the earnings growth for the second quarter

- For the balance of 2005, anticipate continued growth in sales and earnings driven by new product introductions and continued profitable growth from international operations, and the RANGER product line

- Narrowing full year 2005 earnings from continuing operations guidance range to $3.32 to $3.42 per diluted share, a 9% to 13% increase over 2004

Polaris Industries Inc reported record net income from continuing operations of $0.68 per diluted share for the second quarter ended June 30, 2005, an 11 percent increase over the prior year's second quarter net income from continuing operations of $0.61 per diluted share. Higher sales volume from all businesses and lower operating expenses, both in terms of dollars and as a percent of sales, contributed to the second quarter earnings increase.

Reported net income from continuing operations for the second quarter 2005 was $30.1 million, a 10 percent increase over the prior year's second quarter net income from continuing operations of $27.4 million. Sales from continuing operations for the second quarter 2005 increased 12 percent to a record $442.3 million, compared to last year's second quarter sales from continuing operations of $394.6 million.

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