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Harley-Davidson posts $105.7M profit for 4Q, reversing year-ago loss on higher sales
NEW YORK (AP) ' Iconic motorcycle maker Harley-Davidson says higher sales helped it post a $105.7 million fourth-quarter profit, a reversal from a year-ago loss.
Harley-Davidson Inc. reported Tuesday that it had net income of 46 cents per share for the three months ended Dec. 31. That contrasts with a loss of $46.8 million, or 20 cents per share, a year ago.
Excluding discontinued operations, the U.S.-based company earned 24 cents per share. Analysts polled by FactSet expected slightly higher adjusted earnings of 25 cents per share.
Revenue rose 12 percent to $1.03 billion as retail sales of new motorcycles grew 11 percent worldwide. Analysts expected $1.01 billion in revenue.
Its shares slipped 2 percent to $41 in early premarket trading.