Polaris Industries Inc., together with its subsidiaries, designs, engineers, manufactures, and markets off-road vehicles, snowmobiles, motorcycles, and small vehicles primarily in the United States, Canada, Western Europe, Australia, and Mexico. It offers off-road vehicles, such as all-terrain vehicles and side-by-side vehicles for recreational and utility use; snowmobiles consisting of various models, including independent front suspension, long travel rear suspension, hydraulic disc brakes, liquid cooling for brakes, and a three cylinder engine; V-twin cruiser motorcycles; small vehicles, including enclosed on-road quadricycles and light duty commercial vehicles; and technical riding gears...
2100 Highway 55
Medina, MN 55340
Founded in 1987
Polaris Industries Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year 2015
Apr 23 15
Polaris Industries Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported sales were $1,033,345,000 compared to $888,346,000 a year ago. Operating income was $150,286,000 compared to $126,682,000 a year ago. Income before income taxes was $138,313,000 compared to $125,079,000 a year ago. Net income was $88,563,000 against $80,901,000 a year ago. Diluted net income per share was $1.30 against $1.19 a year ago. Net cash provided by operating activities was $4,225,000 against $44,747,000 a year ago. Purchase of property and equipment was $30,784,000 against $39,703,000 a year ago. The decline in net cash provided by operating activities in the 2015 first quarter was the result of increased working capital requirements primarily from higher factory inventory, decreased accounts payable and lower accrued expenses offset somewhat by higher net income.
For the full year 2015, the company is narrowing its guidance range and now expects earnings to be in the range of $7.27 to $7.42 per diluted share, an increase of 9% to 12% over full year 2014 earnings of $6.65 per diluted share. Full year 2015 sales are expected to grow in the range of 9% to 12% over full year 2014 sales, unchanged from previous issued sales guidance. The company is raising its the bottom end of full year 2015 EPS guidance by $0.05. Gross margin guidance is unchanged. The company continues to expect the gross profit percentage to be in the range of flat to up 20 basis points. The company expects gross margins to continue to benefit from higher selling prices and product cost reductions, along with the improved productivity in the factories after a challenging past few quarters. The company is adjusting previously issued guidance for the income tax provision rate for the full year is now expected to be in the range of 34.75% to 35.25% of pretax income, somewhat higher than previous guidance due to the lower expected pretax income from international operations, largely currency related. Assuming currency rates remain in about the same range as quarter end, the company expects that the appreciation of the U.S. dollar will reduce full year 2015 total reported sales versus last year by about $140 million to $160 million, negatively impact gross margins by about $65 million to $75 million, improve operating expenses by about $15 million to $17 million, impact other expenses by about $15 million to $17 million, thereby, reducing pretax income by about $65 million to $75 million. the company continues to expect capital expenditures for the full year to be over $250 million, which includes a portion of the costs of new Alabama plant as well as an increase in tooling investments for the new products under development.
For the second quarter 2015, the company expects the gross profit margin percentage will again be lower than the prior year, similar to what experienced in first quarter 2015.
Polaris Industries Introduces Sportsman 110 EFI and Outlaw 110 EFI Youth Models
Apr 9 15
Polaris Industries Inc. has introduced the Sportsman 110 EFI and Outlaw 110 EFI youth models. The new models are the first youth ATVs to offer EFI and will be available in dealerships in May. The Sportsman and Outlaw 110 EFI youth models will replace the current Sportsman and Outlaw 90 models and include an upgraded 110cc engine for improved off-road performance and Electronic Fuel Injection (EFI) for easier cold starting, reduced maintenance and improved run and idle quality. Both models will be classified as Y-10+ for riders 10 years old and older with adult supervision. The vehicles' speed is limited to less than 15 mph/24.1 kph as delivered, and the speed control system allows adults to increase the speed to a maximum of up to 29 mph/47 kph. The Sportsman 110 EFI will be available in Sage Green while the Outlaw 110 EFI in Voodoo Blue. The Sportsman and Outlaw 110 EFI will continue to offer a wide variety of safety features such as an adjustable throttle limiter to enable adults to set a maximum speed control limit, daytime running lights to increase daytime visibility, full floorboards and heat shields. Other vehicle features include an electric start, automatic transmission, 4-stroke engine, and long travel suspension. Similar to all other Polaris youth models purchased from an authorized dealer, the Sportsman and Outlaw 110 EFI also come with a high visibility whip flag and safety video. All Polaris youth vehicles also come with a DOT-approved helmet (two for the RZR 170 EFI) to help teach kids the importance of wearing the proper safety gear. Along with the Sportsman and Outlaw 110 EFI, Polaris will continue to offer the Outlaw 50, classified as Y-6+, for riders 6 years old and older; the entry-level Phoenix 200, classified as T, for riders 14 and older; and the RZR 170 EFI side-by-side for riders 10 years old and older.
Polaris Industries Inc. to Report Q1, 2015 Results on Apr 23, 2015
Mar 25 15
Polaris Industries Inc. announced that they will report Q1, 2015 results at 9:00 AM, Central Standard Time on Apr 23, 2015