// IP Marketing video - START// IP Marketing video - END

Iconic motorcycle maker Harley-Davidson net income slides 33%

Iconic motorcycle maker Harley-Davidson net income slides 33%

PanARMENIAN.Net - Harley-Davidson's net income slid 33 percent in the fourth quarter compared with last year when the company booked a $51 million gain related to taxes, AP said.

Net income figures fell just shy of Wall Street profit expectations, yet shares moved in and out of positive territory in premarket trading as the company outlined cost savings from a massive retooling at the iconic motorcycle maker.

For the three months ended Dec. 31, the Milwaukee motorcycle maker earned $70.6 million, or 31 cents per share. That's down from $105.7 million, or 24 cents per share, a year earlier.

The year-ago period included a $51 million benefit related to tax issues stemming from the sale of Italian motorcycle maker MV Agusta in 2010.

The per-share discrepancy is due to fewer shares outstanding in the current quarter.

Revenue declined slightly to $1.17 billion from $1.18 billion, hurt partly by plans for lower motorcycle shipments during the period related to a seasonal increase in production during 2013's first half.

Global retail sales of Harley-Davidson motorcycles increased 7.5 percent, with unit sales up in both the U.S. and overseas.

Harley-Davidson's full-year net income climbed 4 percent to $623.9 million, or $2.72 per share, from $599.1 million, or $2.33 per share, in the previous year.

Annual revenue rose 5 percent to $5.58 billion from $5.31 billion.

 Top stories
Armenia's economy is expected to expand by 5.8% in 2017 and grow further by 3.8% and 3.6% in the following two years, the UN said.
"7.5 million liters of wine were produced in the country in 2016, which is by 14% more than the amount produced a year earlier," Karapetyan said.
"There is ample proof that Monsanto's sprays have poisoned our environment contributing drastically to dying off of bees," Tankian said.
Armenia ranks 47 on the ease of doing business index against the 38 spot last year, the World Bank Group’s annual Doing Business report said.
Partner news