I'm Not Saying the Recession is Over but Business is DEFINITELY Improving....Just ask Bloomberg

Harley-Davidson Profit Rises 37%

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By Mark Clothier - Jul 19, 2011 6:40 AM CT

Harley-Davidson Inc. (HOG), the biggest U.S. motorcycle maker, said profit rose after it boosted sales in its home market for the first time in almost five years. The company said it will ship more bikes than previously planned.
Profit from continuing operations jumped 37 percent to $190.6 million, or 81 cents a share, from $139.3 million, or 59 cents, a year earlier, Harley said today in a statement. The average estimate of analysts surveyed by Bloomberg was 72 cents. Sales increased 18 percent to $1.34 billion.
Harley, the maker of the Fat Boy and V-Rod motorcycles, has cut expenses by renegotiating labor contracts at factories in Pennsylvania and Wisconsin. The Milwaukee-based company also introduced bikes, such as the $8,000 SuperLow, to appeal to new riders. Retail sales rose 7.5 percent in the U.S. and 5.6 percent worldwide, the company said.
“While we are pleased by Harley-Davidson’s second-quarter results, including the strong jump at retail in the U.S., our focus remains squarely on sustaining this progress through the ongoing implementation of our business strategy,” Chief Executive Officer Keith Wandell said in the statement.
Harley said it now expects to ship 228,000 to 235,000 motorcycles, an increase of 8 percent to 12 percent from last year. It had said in April that it planned to ship 215,000 to 228,000.
The company last reported an increase in U.S. sales in the fourth quarter of 2006.
To contact the reporter on this story: Mark Clothier in Southfield, Michigan, at mclothier@bloomberg.net.
To contact the editor responsible for this story: Jamie Butters at jbutters@bloomberg.net