Polaris Industries Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year of 2015
Jan 27 15
Polaris Industries Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported sales were $1,275,000,000 compared to $1,083,710,000 a year ago. Operating income was $210,000,000 compared to $169,098,000 a year ago. Income before income taxes was $202,476,000 compared to $165,332,000 a year ago. Net income from continuing operations was $135,397,000 compared to $108,680,000 a year ago. Net income was $135,397,000 or $1.98 diluted per share compared to $108,680,000 or $1.56 diluted per share a year ago.
For the year, the company reported sales were $4,479,648,000 compared to $3,777,068,000 a year ago. Operating income was $714,690,000 compared to $577,914,000 a year ago. Income before income taxes was $699,317,000 compared to $574,429,000 a year ago. Net income from continuing operations was $454,029,000 compared to $381,069,000 a year ago. Net income was $454,029,000 or $6.65 diluted per share compared to $377,292,000 or $5.35 diluted per share a year ago. Net cash provided by operating activities was $529,270,000 compared to $492,240,000 a year ago. Purchase of property and equipment was $205,079,000 compared to $251,401,000 a year ago.
The company provided earnings guidance for the full year of 2015. Full year 2015 earnings per share is expected to be in the range of $7.22 to $7.42 per diluted share, an increase of 9% to 12% over the full year 2014 earnings per share. Net income for full year 2015 is expected to increase in the range of 9% to 12% over full year 2014. Sales for full year 2015 are expected to increase 9% to 12% over full year 2014 sales. Capital expenditures for the full year 2015 are expected to be over $250 million, which includes a portion of the cost of new ORV manufacturing plant in Alabama as well as an increase in tooling investments for the new products under development for model year 2016 and beyond. Moving down the P&L. Gross margins are expected to be in the range of flat to up 20 basis points in 2015.
Polaris Industries Inc. Plans to Build New Production Facility in Huntsville, Alabama
Jan 9 15
Polaris Industries Inc. announced plans to build a new production facility in Huntsville, Alabama to provide additional capacity and flexibility as the company continues to experience rapid growth. Located Southwest of Huntsville City Center, the 600,000 square-foot facility will focus on off-road vehicle production. The 453-acre Huntsville site offers Polaris close proximity to its key customer base in the Southeast U.S. and strong logistics network. Polaris will design and develop a lean and flexible facility to drive continuous improvement from the start. The new plant in Alabama will become part of the North American plant network and will reduce complexity within the existing plant network and enable logistics optimization. The facility will have multiple assembly lines providing flexibility to quickly replenish demand and support continued product innovations. Equipped with technologies, the plant will support several core processes including, vehicle assembly, chassis and body painting, welding, fabrication and injection molding. At full capacity, the site will employ at least 1,700 people. Polaris will break ground on the Huntsville facility in the first quarter of 2015 with completion slated for early in the second quarter of 2016. Production will begin shortly thereafter.
Polaris Introduces RZR® Line-Ups
Jan 7 15
Polaris introduced RZR® line-ups ever and continued to fuel the RZR lifestyle by offering the widest variety of vehicles for every type of sport riding. With the introduction of the new 2015 RZR 900 and RZR S 900, the company redefined the first two RZR products ever built by providing the vehicles with unequalled power, highly-capable suspensions, unmatched agility, and revolutionary ergonomics and styling. To continue RZR’s tradition of offering the most-complete line-up of sport side-by-sides, the company is introducing the new RZR 4 900 EPS, one of the most versatile, multi-passenger side-by-sides available. At the heart of the RZR 4 900 EPS is a 75 horsepower ProStar® 900 engine offering 40% more power than the legendary RZR 4 800 model it replaces. Polaris ProStar engines have become the pinnacle of performance engines for RZR due to their efficiency, acceleration and durability. To get more power to the ground, the vehicle also features the extremely-durable RZR XP transmission which is specifically geared to optimize the power of the engine for a huge improvement in acceleration over the RZR 4 800. With improved clutching and calibration, the RZR 4 900 EPS ride is also smooth and predictable throughout the power band. And the new, high-flow clutch intake system provides more airflow and decreases belt temperature to provide an extremely durable clutch system. To handle diverse terrains from high desert to dense trails, the RZR 4 900 EPS features a 106.5 in/270.5 cm long wheelbase paired with a Dual A-Arm Front and Rear Suspension with 12.25 in/31.12 cm of front suspension travel and 13.2 in/33.53 cm in the rear and FOX Performance Series 2.0 Podium X Shocks, so the suspension can be tuned for exactly the way users ride to provide excellent plushness and comfort while still yielding great bottom-out resistance. The unit’s ultra-rigid, tubular chassis is paired with a completely new suspension geometry for less vibration inside the vehicle and more responsive suspension feedback. The machine also features new 27 in/68.58 cm GBC Dirt Commander Tires that offer better side bite, stiffer sidewalls, better tracking through corners and increased durability, making the RZR 4 900 EPS a performance-based, multi-passenger machine that's predictable and inspires confidence. For unmatched agility, the RZR 4 900 EPS has several features that were first introduced on the RZR S 900. The vehicle’s optimized track width inspires confidence through corners due to an additional 1.3 in/3.3 cm of rear track width while maintaining the overall vehicle width of 60 in/152.4 cm. While all RZR vehicles are equipped with On-Demand True AWD, the RZR 4 900 EPS utilizes Polaris High-Performance AWD which keeps the front wheels pulling stronger and longer, maximizing power delivery to the ground in every condition for a more responsive ride. The system provides increased traction without sacrificing steering effort to provide unmatched point-and-shoot handling. The RZR 4 900 EPS also features 20% faster steering response with an improved two-turn lock to lock steering ratio. Coupled with the smoothest and most-responsive standard Electronic Power Steering (EPS) with variable assist, the vehicle ensures the operator feels confident and less fatigued, and allows the driver to keep his hands on the steering wheel more often even when navigating through tight terrain. For excellent rider comfort, the RZR 4 900 EPS features many of the same, unique features found on the RZR XP 1000. Both driver and passenger seats are equipped with seat sliders for easy adjustability, and all four seats offer improved bolstering and more hip cushioning for a more secure feel. A thin-film technology under the cover of the seats offers a drier ride in wet conditions. Rear passengers also will enjoy more foot and leg room, and an angled floor for a more secure feeling. The vehicle also features four, factory-installed quarter doors to make getting in and out easier. First found on the RZR XP 1000, the cockpit of the RZR 4 900 EPS features front LED floor lighting and a blue back-lighted instrument cluster, readable both in direct sunlight and at night. To take more stuff along, a large center storage area and a bigger glove box provide ample space for any items needed during the ride while the deeper rear box provides ample space for additional cargo. Sealed floor seams and equipment pass-throughs keep the occupants cleaner; while dual removable floor drains allow for easier clean out of the cabin. The RZR 4 900 EPS also is easier to service due to the ease of access of the major components. The air filter, spark plugs and oil fill are located under the removable box panel in the cargo box of the vehicle while a panel between the seats houses the dipstick and oil filter, and is accessible without removing the seats. The vehicle features an integrated transmission with only one check/fill point and grease zerks for both the inboard and outboard bushings of the A-arms. Durability is taken to a new level with new stronger ball joints, half shafts and hubs with improved bearing fit. To allow for easy electrical accessory installation, the RZR 4 900 EPS features a terminal block for wiring under the hood and a bigger battery with 44 Amp-hours of capacity and 575 cold-cranking amps.