Harley Sales up 8.5% Worldwide - Chicagoland Sportbikes
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post #1 of 11 (permalink) Old 01-18-2007, 12:50 PM Thread Starter
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Harley Sales up 8.5% Worldwide

From RoadRacing World:

HARLEY-DAVIDSON REPORTS REVENUE AND EARNINGS GROWTH FOR 2006

Annual Worldwide Retail Sales Increase 8.5 Percent

Milwaukee, Wis., January 18, 2007 -- Harley-Davidson, Inc. (NYSE: HOG) today announced its results for the fourth quarter and year ended December 31, 2006. Revenue for the quarter was $1.50 billion compared to $1.34 billion in the year-ago quarter, an 11.9 percent increase. Net income for the quarter was $252.4 million compared to $230.0 million, an increase of 9.7 percent over the fourth quarter of 2005. Fourth quarter diluted earnings per share (EPS) were $0.97, a 15.5 percent increase compared to last year’s $0.84.

Revenue for the full year was $5.80 billion, compared with $5.34 billion in 2005, an 8.6 percent increase. Wholesale shipments of Harley-Davidson motorcycles were 349,196 units for the year, a 6.1 percent increase compared to 2005. Net income for the year was $1.04 billion, an 8.7 percent increase versus last year’s $959.6 million. Diluted EPS for the full year were $3.93, a 15.2 percent increase compared with $3.41 in 2005.

“After more than two decades of uninterrupted growth at Harley-Davidson, our dedicated employees and passionate dealers have once again delivered excellent results,” said Jim Ziemer, Chief Executive Officer. “I couldn’t ask for a more committed workforce and dealer network.”

“In 2006, the Company’s revenue and earnings surpassed 2005 results demonstrating continued growth. At the same time, our dealers achieved impressive Harley-Davidson motorcycle sales volumes. The enthusiastic worldwide response to the changes in our 2007 models contributed to an 8.5 percent increase in retail sales during the year,” said Ziemer.

“Furthermore, the Company continued to return significant value to shareholders in 2006. We increased dividend payments by 22.5 percent over the prior year and repurchased 19.3 million shares of our common stock during 2006 at a cost of $1.06 billion.”

“As we look to the future, we believe Harley-Davidson will deliver EPS growth in the range of 11 – 17 percent each year through 2009. On an annual basis we expect solid revenue growth, margin improvement, and the benefits of strong free cash flow to drive this earnings growth,” said Ziemer.

The Company also expects to ship between 82,000 and 84,000 Harley-Davidson motorcycles for the first quarter of 2007.

Motorcycles and Related Products Segment – Fourth Quarter Results

Revenue from Harley-Davidson motorcycles was $1.22 billion, an increase of $135.6 million or 12.5 percent over the same period last year. Shipments of Harley-Davidson motorcycles totaled 92,848 units, an increase of 5,260 units or 6.0 percent over last year’s fourth quarter.

Revenue from Parts and Accessories (P&A), which consists of Genuine Motor Parts and Genuine Motor Accessories, totaled $179.2 million, an increase of $9.3 million or 5.5 percent over the year-ago quarter. Revenue from General Merchandise, which consists of MotorClothes apparel and collectibles, totaled $70.6 million, an increase of $10.1 million or 16.7 percent over the year-ago quarter.

Gross margin for the fourth quarter of 2006 was 38.0 percent of revenue compared to 38.3 percent for the fourth quarter last year. Fourth quarter operating margin decreased to 22.8 percent from 23.4 percent in the fourth quarter of 2005.

Motorcycle Retail Sales Data

During the fourth quarter, worldwide retail sales of Harley-Davidson motorcycles increased 6.4 percent over the prior year quarter. In the U.S., retail sales of Harley-Davidson motorcycles increased 0.3 percent for the quarter while the heavyweight motorcycle industry in the U.S. decreased 1.7 percent. Retail sales of Harley-Davidson motorcycles grew 29.4 percent in international markets during the fourth quarter of 2006 compared to the fourth quarter of 2005. Fourth quarter retail sales increased 31.2 percent in Europe; Japan was up 19.6 percent; Canada was up 37.4 percent and all other international markets combined were up 34.0 percent.

Worldwide retail sales of Harley-Davidson motorcycles increased 8.5 percent in 2006 compared to 2005. In the U.S., retail sales of Harley-Davidson motorcycles increased 5.9 percent while the U.S. heavyweight motorcycle market was up 4.9 percent for the same period. In our international markets, Harley-Davidson retail sales for the full year grew 18.6 percent. Retail sales in Europe increased 14.6 percent; Japan was up 16.3 percent; Canada was up 15.9 percent and all other international markets combined were up 34.3 percent.


Financial Services Segment

Harley-Davidson Financial Services (HDFS) reported fourth quarter operating income of $47.6 million, an increase of $8.1 million or 20.7 percent compared to the year-ago quarter. The increase is primarily due to higher wholesale and retail net interest income.

Income Tax Rate

The Company's fourth quarter effective income tax rate was 35.1 percent compared to 35.5 percent in the same quarter last year. This decrease primarily reflects the retroactive reinstatement of the federal research and development tax credit. The Company’s full year effective tax rate in 2006 was 35.8 percent.

Harley-Davidson, Inc. - Twelve Month Results

For the fiscal year ended 2006, revenue totaled $5.80 billion, an 8.6 percent increase over 2005. EPS were $3.93, an increase of 15.2 percent compared to 2005.
Shipments of Harley-Davidson motorcycles were 349,196 units in 2006, a 6.1 percent increase compared to last year’s 329,017 units. Harley-Davidson motorcycle revenue was $4.55 billion, up 8.8 percent compared to last year’s $4.18 billion. P&A revenue totaled $862.3 million, a 5.7 percent increase over last year’s $815.7 million. General Merchandise revenue totaled $277.5 million, a 12.0 percent increase compared to $247.9 million during 2005.

Motorcycle segment gross margin for the full year was 38.5 percent of revenue compared to 38.2 percent for 2005. Full year 2006 operating margin increased to 24.4 percent from 24.3 percent compared to the prior year.
HDFS operating income was $210.7 million, a 10.0 percent increase over last year’s $191.6 million.

Cash Flow

Cash and marketable securities totaled $896.5 million as of December 31, 2006. Cash flow from operations was $761.8 million and capital expenditures were $219.6 million during 2006. In 2007, capital expenditures are expected to be between $300 million and $325 million.

Stock Repurchase

The Company repurchased 2.1 million shares of its common stock at a cost of $151.0 million during the fourth quarter of 2006. For the full year of 2006, the Company repurchased 19.3 million shares of its common stock at a cost of $1.06 billion. On December 31, 2006, the Company had 258,052,356 shares of common stock outstanding.

As of December 31, 2006, there are 22.8 million shares remaining on two board-approved share repurchase authorizations. An additional board-approved share repurchase authorization is in place to offset option exercises.

===========
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post #2 of 11 (permalink) Old 01-18-2007, 01:51 PM
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I heard last year that they were inflating the numbers for there stock holders

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post #3 of 11 (permalink) Old 01-26-2007, 02:55 AM
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harley's suck. hands down.

when I was growing up it used to be if you rode a harley, you were automatically a badass biker from hell...

now all it means is that you are a sell-out, middle-aged hipster and you just spent a shitload of money on a big, cumbersome, heavy bike with very a little 'gooooooo!' and you are probably a doctor or a lawyer... you are definitely NOT an 'outlaw' like back in the day...

nowadays, if you want to be a badass biker from hell, you have to build your own motorcycle from the ground up.
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post #4 of 11 (permalink) Old 01-26-2007, 07:14 AM
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I wonder when the bubble will burst....hopefully never....no matter how much I slam their products and their riders they are still an excellent marketing model

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post #5 of 11 (permalink) Old 01-26-2007, 07:19 AM
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Quote:
Originally Posted by Apollo1777 View Post
harley's suck. hands down.

when I was growing up it used to be if you rode a harley, you were automatically a badass biker from hell...

now all it means is that you are a sell-out, middle-aged hipster and you just spent a shitload of money on a big, cumbersome, heavy bike with very a little 'gooooooo!' and you are probably a doctor or a lawyer... you are definitely NOT an 'outlaw' like back in the day...

nowadays, if you want to be a badass biker from hell, you have to build your own motorcycle from the ground up.

Harleys dont suck, people suck. in that whole post you dont mention one thing about the bike, its the people riding them that you hate. Harleys are excellent comfortable rides.




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Last edited by HDTony; 01-26-2007 at 07:21 AM.
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post #6 of 11 (permalink) Old 01-26-2007, 08:11 AM
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Alright!!!!!! Congrats to Harley-Davidson for obtaining a positive sales number!!!!!!!

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post #7 of 11 (permalink) Old 01-26-2007, 12:29 PM
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live to ride ride to live doo rag sales are up 10% by the way




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post #8 of 11 (permalink) Old 01-26-2007, 01:12 PM
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Quote:
Originally Posted by HDTony View Post
Harleys dont suck, people suck. in that whole post you dont mention one thing about the bike, its the people riding them that you hate. Harleys are excellent comfortable rides.
the most comfortable bike I've ever ridden was a road king followed by a fat boy (which i guess is based on the roadking platform or vise versa) and a honda spirit 1100. cruisers are very comfortable, but are big and cumbersome when compared to the ride-ability of a sportbike.

I think you missed my other point in that post: harley's are very heavy, and (given the same engine displacement, 1200cc harley compared to a 1200cc I-4) any sportbike can outperform an oversized, underpowered, overpriced harly any day. the other point i was making is what Rick was talking about: harley has for years, maybe decades, intentionally kept their production low so the cost of their bikes, even used ones, are over-inflated. good marketing strategy? yes, if all you think about is profits... but, of course, what company doesn't.

i wanted a harley since i was a little kid, until after I started riding i realized that harley's "mystique" was all marketing and not very much substance. IMO I would rather have a Honda, along with it's sterling reputation for putting out very low maintenance machines instead of the leaky, troublesome harley's...

AMC ruined that company's rep in the 80s (and early 90's i think... i don't remember all the dates), and from what i can tell, you have to be a mechanic (or a bike connoisseur) in order to keep up with all the recalls and trouble that their bikes have still to this day. they claim that they've overcome those days of leaky bikes, but i would rather spend my time and money on riding, rather than worrying about whether my bike is going to spring a leak. which means if i, personally, were going to get a cruiser, i would get something cheaper and much more reliable: any japanese bike.

again, just my
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post #9 of 11 (permalink) Old 01-27-2007, 06:27 PM
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Quote:
Originally Posted by Apollo1777 View Post
the most comfortable bike I've ever ridden was a road king followed by a fat boy (which i guess is based on the roadking platform or vise versa) and a honda spirit 1100. cruisers are very comfortable, but are big and cumbersome when compared to the ride-ability of a sportbike.

I think you missed my other point in that post: harley's are very heavy, and (given the same engine displacement, 1200cc harley compared to a 1200cc I-4) any sportbike can outperform an oversized, underpowered, overpriced harly any day. the other point i was making is what Rick was talking about: harley has for years, maybe decades, intentionally kept their production low so the cost of their bikes, even used ones, are over-inflated. good marketing strategy? yes, if all you think about is profits... but, of course, what company doesn't.

i wanted a harley since i was a little kid, until after I started riding i realized that harley's "mystique" was all marketing and not very much substance. IMO I would rather have a Honda, along with it's sterling reputation for putting out very low maintenance machines instead of the leaky, troublesome harley's...

AMC ruined that company's rep in the 80s (and early 90's i think... i don't remember all the dates), and from what i can tell, you have to be a mechanic (or a bike connoisseur) in order to keep up with all the recalls and trouble that their bikes have still to this day. they claim that they've overcome those days of leaky bikes, but i would rather spend my time and money on riding, rather than worrying about whether my bike is going to spring a leak. which means if i, personally, were going to get a cruiser, i would get something cheaper and much more reliable: any japanese bike.

again, just my

You just showed how little you actually know about their product. I won't get into how many mistakes you made in two paragraphs.

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post #10 of 11 (permalink) Old 01-28-2007, 07:12 AM
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A little off topic here....if you want to ride a super comfortable bike, that handles like a dream...try the Ducati ST3...I know, I know I'm heavily biased, because I own one....amybe they designed for a guy my height...because I can do mulitple high mileage days and not feel a thing, and handles the twisties like a dream. Alot of manufacturers could learn alot from Harley's marketing plan, they do that very,very well. And they market to women well too. The product, although not to my personal liking...thats the important part....has overcome the engineering problems they had 20 years ago.

My personal insight is that Harley gets alot of people involved in motorcycling, I can't begin to count the people who began their motorcycling passion, because of the Harley mystic, some stick with riding Harleys all their lives, many explore other brands, realizing that they want to enrich their 2 wheel experience.

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post #11 of 11 (permalink) Old 01-29-2007, 12:30 PM
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Quote:
Originally Posted by RickC1957 View Post
My personal insight is that Harley gets alot of people involved in motorcycling, I can't begin to count the people who began their motorcycling passion, because of the Harley mystic, some stick with riding Harleys all their lives, many explore other brands, realizing that they want to enrich their 2 wheel experience.
+1 I agree. I've had Beezers, Trumps, Honders, Zooks, Yami's AND a bunch of Harleys. Never did have a Duc though. Maybe someday. I'll need to get one of them fine Itralian leather Ducati jackets and hang out with the latte sippers once or twice before I kack.

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