POLARIS Industries Inc. has reported record second quarter net income of $100.9 million for the quarter ended June 30, 2015, an increase of four percent from the prior year’s second quarter net income of $96.9 million.
Earnings per share were a record $1.49 per diluted share for the second quarter of 2015 compared to $1.42 per diluted share for the second quarter of 2014.
Sales for the second quarter 2015 totalled a record $1,124.3 million, an increase of 11 percent over last year’s second quarter sales of $1,014.0 million.
“In addition to reporting record second quarter sales and earnings, there are numerous positive undertones to our results this quarter. Motorcycle demand, notably including Slingshot, remains exceptionally high", stated Scott Wine, Polaris’ Chairman and Chief Executive Officer.
Motorcycle sales increased 57 percent to $162.1 million for the second quarter of 2015 compared to same period last year, due to continued strong demand for Indian motorcycles and the new Slingshot roadster. Victory, Indian Motorcycle and Slingshot North American retail sales increased over 80 percent during the second quarter of 2015 driven by Indian Motorcycle and Slingshot retail sales, while North American industry midsize and heavyweight motorcycle retail sales were flat compared with the second quarter of 2014.
Demand for the Indian Scout, Roadmaster and the new Indian Dark Horse drove an over 100 percent increase in retail sales for Indian Motorcycle during the quarter. Victory retail sales in the second quarter of 2015 were lower than the prior year largely due to poor product availability of the new Victory Magnum and Magnum X-1.
International sales to customers outside of North America totalled $162.9 million for the second quarter of 2015, down four percent from the same period in 2014, driven by weak currencies.
The EMEA region’s sales declined 12 percent in the 2015 second quarter, partially offset by a 32 percent increase in Latin American sales and a 15 percent increase in sales in the Asia/Pacific region. Gross profit increased five percent to $319.4 million in the second quarter of 2015.
