“Harley-Davidson Inc. on Tuesday reported lower net income during its fourth quarter on lower revenue, despite higher sales of new motorcycles in the United States and abroad.
Harley-Davidson (NYSE: HOG), the Milwaukee-based motorcycle manufacturer, said net income was $70.6 million, or 31 cents per share, in the fourth quarter ended Dec. 31, down from $105.7 million, or 46 cents per share, in the same period last year.
Net income in the 2011 fourth quarter included an additional $51 million in earnings from discontinued operations.
Motorcycles and related products revenue was down 1.5 percent to $1.01 billion, from $1.03 billion in the fourth quarter of 2011. Consolidated revenue for the quarter, which includes revenue from Harley-Davidson’s financial services unit, was down nearly 1 percent to $1.17 billion, from $1.18 billion in the year-ago period.
Retail sales of new Harley-Davidson motorcycles increased 7.5% …”
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