Oct. 22--Harley-Davidson Inc. earnings and motorcycle sales rose sharply in the third fiscal quarter compared with the same period a year ago, the company reported Tuesday.
Net income increased to $162.7 million, or 73 cents per share, from $134 million, or 59 cents per share, in the third quarter of 2012.
Harley reported $1.34 billion in sales in the recent quarter, up from $1.25 billion a year ago. Worldwide retail sales of new Harley-Davidson motorcycles increased 15.5% in the quarter, including a 20.1% increase in the United States.
"Harley-Davidson had a great third quarter, with strong financial performance and retail sales growth," Keith Wandell, chairman, president and chief executive officer, said in a news release.
"Rider response to the 2014 motorcycles we introduced Aug. 18 was extremely positive. In fact, initial retail sales of the new Project Rushmore motorcycles sparked the largest year-over-year new model year sales increase in two decades," Wandell said.
The Rushmore cycles are the first to come under a product development initiative, announced four years ago, that aims to bring new bikes and features to the marketplace faster.
Dealers worldwide sold 70,517 new Harley motorcycles in the third quarter, compared to 61,053 in the year-ago period. In the U.S., dealers sold 48,529 new motorcycles in the quarter, up 20.1%, compared to sales of 40,402 bikes in the third quarter of 2012.
In international markets, dealers sold 21,988 new motorcycles in the recent quarter, up 6.5% compared to 20,651 in the year-ago period, with unit sales up 10% in the Asia Pacific region, 1.6% in the EMEA region, 15.6% in Latin America and 7% in Canada.
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Distributed by MCT Information Services
Original headline: Harley-Davidson's Project Rushmore helps push sales sharply higher
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