Harley-Davidson Earnings Rise Over Threefold on Financial Services
Earnings per share from continuing operations was 59 cents in the second quarter, compared with 14 cents in the second quarter of 2009, the company said in a statement. Net income from continuing operations rose to $139.3 million, from $33.4 million a year ago.
The company posted $60.8 million of operating income from its financial services unit in the second quarter, compared with a loss of $90.5 million in the second quarter of 2009. Global retail sales of new Harley-Davidson motorcycles fell 5.5% year-on year.
"Harley-Davidson is making steady progress at executing its strategy to deliver results through focus," said Keith Wandell, the company's CEO.
Shares rose more than 12% on the news.