Editorials, Harley Davidson

Harley-Davidson Inc. Stocks Reports 2009 Fourth-Quarter Losses

Harley-Davidson, Inc. (NYSE:HOG) reports that they had 2009 revenue of $4.29 billion and income of $70.6 million. Or $.30 a share from day-to-day operations. However, the fourth quarter of 2009 caught up with Harley Davidson with reports of $764.5 million revenue and a loss of $147.2 million.  These fourth-quarter results were known due to a 53.1 percent reduction in Harley-Davidson® motorcycle shipments from 2008 and also the closing of Buell® productions and the pending sale of MV Augusta drove Harley Davidson Stocks even lower.

“Our full-year 2009 results were affected by the difficult economy, as well as the planned actions we took that resulted in restructuring charges of $224 million. We believe these actions are critical to restoring greater profitability and long-term growth to Harley-Davidson,” said Keith Wandell, Harley-Davidson, Inc. President and Chief Executive Officer. “We are confident we have made the right decisions for our future, and we are executing our strategy with focused intensity.” “Focusing our investment behind the uniquely strong Harley-Davidson brand provides the most attractive path to sustained, long-term growth,” Wandell said. “We also expect to achieve substantial gains in the efficiency of our operations through continuous improvement.”

Harley Davidson reported this loss as the first in 16 years. Dealers can look for up to 10% less motorcycles to be delivered for 2010 which would make the total of all Harley Davidson Motorcycles forecasted to ship out around 201,000 to 212,000 worldwide, “We believe 2010 will continue to be a challenging year,” Wandell noted. In the first quarter of 2010, Harley-Davidson expects to ship 52,000 to 57,000 motorcycles.  Take a look here to read the entire Fourth Quarter Closing Report from Harley Davidson.

Boss Hawg

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