Polaris reports record results
POLARIS Industries Inc. (the parent company of both Victory and Indian Motorcycles) has reported record third quarter net income from continuing operations of $140.8 million for the quarter ended September 30, 2014, an increase of 20 percent from the prior year’s third quarter net income from continuing operations of $116.9 million. Sales for the third quarter 2014 totaled a record $1,302.3 million, an increase of 18 percent over last year’s third quarter sales of $1,102.6 million.
“Our strong third quarter results reflect the continued execution of our long-term strategy and broad strength across our industry-leading portfolio,” said Scott Wine, Polaris’ Chairman and CEO. “Amid heightened competition we garnered strong retail sales in all categories, even as we introduced more than 20 new off-road vehicles and motorcycles and over 300 new complementary accessories for our consumers.
“Along with industry-leading innovation, we remain focused on improving our operations as part of our evolution into a highly profitable, customer-centric global lean enterprise. We recently made significant progress toward this goal with the hiring of Ken Pucel to fill the newly formed position of Executive Vice President of Operations, Engineering and Lean. This move was preceded by the grand opening of our manufacturing facility in Poland, which will provide a timely capacity increase, enable us to deliver superior customer service, and ultimately serve as a growth catalyst in the EMEA region. These initiatives are important pieces of the infrastructure we are creating to support our continued growth toward becoming an $8.0 billion company.”
Sales for the motorcycles division increased 28 percent to $63.3 million in the 2014 third quarter compared to the same period last year due to continued strong demand for the new Indian motorcycles. Consumer retail demand for Polaris motorcycles, driven by Indian Motorcycle retail sales, was up nearly 30 percent during the 2014 third quarter, while third quarter North American industry heavyweight cruiser and touring motorcycle retail sales were up low-single digits percent versus the 2013 third quarter. During the quarter, the Company added two new models to the 2015 Indian Motorcycle line-up with the addition of the Roadmaster and the return of the Scout. Victory motorcycle retail sales in the 2014 third quarter were down mid-teens percent, impacted by timing delays of shipments of the 2015 Victory Magnum, a new custom bagger, and the prior year’s tough comparison as Victory retail sales were up over 30 percent in the 2013 third quarter. Sales of Polaris motorcycles outside of North America were up over 80 percent in the third quarter of 2014 as compared to the year-ago period, driven by strong demand for Indian motorcycles.
Parts, Garments and Accessories (PG&A) sales increased 24 percent to $219.1 million during the third quarter of 2014 as compared to the same period last year. ORV, motorcycles and snowmobile related PG&A experienced sales growth during the quarter. Sales of PG&A to customers outside of North America increased eight percent during the 2014 third quarter compared to the same period last year. Innovation remains a driving factor in delivering continued growth with over 300 new model year 2015 accessories added to the PG&A product line-up. Additionally, the accessory dollars sold per unit has increased compared to this time last year driven by customer focused solutions like the PRO-FIT storage systems for snowmobiles and additional Lock and Ride accessories for ORVs and motorcycles.
International sales totaled $151.6 million for the 2014 third quarter, a nine percent increase over the same period in 2013. The increase in third quarter sales resulted from strong sales growth in ORV and Motorcycles, offset somewhat by lower snowmobile shipments due to the poor snowfall last winter in the Scandinavian and Russian regions. Asia Pacific sales for the third quarter of 2014 were up 37 percent and Latin America sales increased 48 percent, while Europe, Middle East and Africa (EMEA) sales were about flat in spite of the weak Euro and lower snowmobile sales. Both ORV and motorcycles gained retail market share outside of North America during the 2014 third quarter.
Gross profit increased 16 percent to $388.3 million compared to $334.8 million in the third quarter of 2013. As a percentage of sales, gross profit margin decreased 55 basis points to 29.8 percent of sales for the third quarter of 2014, compared to 30.4 percent of sales for the same period last year. The gross margin percentage declined during the quarter, as expected, due principally to pressures from negative currency movements, offset somewhat by the benefit of lower product costs and higher pricing.
Operating expenses for the third quarter of 2014 declined 95 basis points, as a percentage of sales, to 14.0 percent compared to 15.0 percent of sales in the 2013 third quarter. Operating expenses in dollars increased 11 percent to $182.7 million in the 2014 third quarter compared to $165.2 million for the third quarter of 2013. Operating expenses as a percent of sales for the 2014 third quarter declined due to lower long-term incentive compensation expenses partially offset by higher marketing and advertising expenses related to the launch of various new model year 2015 products and the continued roll-out of Indian Motorcycle.
www.polaris.com
Flywheel rebuild service
HYPERFORMANCE, the business established in 1983 by ‘The King of Cubes’ Randy Torgeson, and best known for its line of cast ductile iron Big Jugs cylinders, has now expanded its service offering to include a complete line of rebuild services for flywheel assemblies.
As a result of expanding its service work Hyperformance’s flywheel service includes new connecting rods, bearings, crank pins, shafts, and plugs as needed to improve and/or restore crank shaft assemblies. Rebuilds offered by the company can also include the machining of flywheels for weight transfer and balancing. Crankcase rebuilding and flywheel installation is also available along with complete engine upgrades.
HYPERFORMANCE
Pleasant Hill, Iowa, USA
Tel: 515 266 6381
info@kingofcubes.com
www.kingofcubes.com
Love Jugs Heat-Master
HAMMERHEAD Engineering has expanded its range of H-D engine cooling products with the introduction of its Love Jugs Heat-Master, which build upon the success of the company’s original Love Jugs.
The Love Jugs Heat-Master is a patented dual fan cooling system said to deliver more cooling air that any other product on the market.
Recessed switches on the face of each fan motor are said to be easier to use and the smooth outer band on the fan motor cover gives a compact look. In addition, this version of the Love Jugs utilizes new compact fan motors, which deliver more cooling air. The fan bodies are manufactured from aircraft quality stainless steel, polished to a high chrome finish, and the fan motors are said to be completely waterproof.
HAMMERHEAD ENGINEERING
Delray Beach, Florida, USA
Tel: 561 499 0974
info@love-jugs.com
www.love-jugs.com
Ness Big Brake rotor kits
ARLEN Ness is well known for its extensive range of aftermarket parts and accessories for H-D applications, and it is now expanding its product offering for Victory models to match with the introduction of Big Brake rotor kits for the "alternative" American V-twin motorcycles.
The Ness Big Brake rotor kits for use on Victory Cross Country and Cross Roads models include two floating brake rotors, two billet caliper adapter brackets and all necessary hardware. Once installed the larger diameter rotors offer increased brake performance and better heat dissipation than the stock rotors for consistent stopping power even under the most strenuous of use.
The design of the over-sized rotors in the kit matches that of the factory Victory wheels.
ARLEN NESS ENTERPRISES
Dublin, California, USA
Tel: 925 479 6350
contact@arlenness.com
www.arlenness.com
New Touring seats from LePera
LEPERA has launched two new seats, both of which are for use on ’08 and up Touring models.
The first of the seats is the Nomad, which flows into the lines of the saddlebags and provides a wide footprint for the driver, while giving the appearance of a lean machine.
LePera is offering the Nomad in smooth, diamond, pleats or distressed brown seating with black bands.
Starting with its popular Outcast seat, LePera has reworked it to introduce the Outcast GT. Enhancing buyers’ ability to custom-tailor the GT to meet all of their expectations, the inlay center strip is available in red or white. LePera also states that the GT offers supreme rider comfort with a deeply contoured, newly formulated Marathon foam foundation and a matching removable back rest.
LEPERA ENTERPRISES
North Hollywood, California, USA
Tel: 818 767 5110
info@lepera.com
www.lepera.com
Piggyback shocks for V-Rod
PROGRESSIVE Suspension has now introduced a version of its 970 Series Piggyback shock for use on the V-Rod.
Inspired by racers, the 970 Series shocks combine a high pressure gas monotube design with deflective disc damping routed through two unique circuits and adjustable for compression damping via an easily accessible knob. Both the shock body and piggyback are coated internally to reduce friction and then capped with a forged aluminum upper. The shock is wrapped with a progressive rate coil spring that can be fine-tuned via threaded preload adjusters to suit a rider’s weight and riding style.
The Progressive 970 Series shocks are available to fit ‘07-‘14 V-Rod, VRSCA, VRSCD, VRSCAW, VRSCX, VRSCDX and VRSCF applications in a choice of 12.5in or 13in lengths and black or bronze anodized finishes.
PROGRESSIVE SUSPENSION
La Palma, California, USA
Tel: 714 523 8700
info@progressivesuspension.com
www.progressivesuspension.com
Del Mar and Raid wheels
ROLAND Sands Design wheel line-up now includes the Del Mar and Raid styles. The Del Mar wheels have a design that was inspired by classic flat track and road racing wheels, and the company states it is the lightest wheel it makes. Finish options on the wheel are the new Contrast Ops and Machine Ops.
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| Del Mar |
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| Raid |
The inspiration for the RSD Raid wheels was taken from classic hot rod styling, but given a modern twist with thin spokes resting between pocketed main spokes. The wheels have had weight removed from the rim, and there is a double pinstripe as an additional style feature. RSD is offering the Raid in Contrast Ops and Machine Ops as well as Chrome.
Alongside the wheels RSD is offering matching discs, pulleys and air cleaners.
ROLAND SANDS DESIGN
Los Alamitos, California, USA
Tel: 562 493 5297
info@rolandsands.com
www.rolandsands.com
Vance & Hines VO2 Naked air intake
HARLEY’s 2014 Touring models are the latest bikes in the Motor Company’s line-up to have a Vance & Hines VO2 Naked air intake designed for use on them.
The VO2 Naked, which features a billet venture, large inlet backing plate and high flow washable filter element bolts directly to the factory throttle body, and when paired with Vance & Hines Fuelpak FP3 and Competition Series slip-on, is said to offer strong performance gains across the entire power curve.
The VO2 Naked can be run raw without a cover, under the OEM cover, or with one of the many optional VO2 Skullcap covers in a variety of styles and finishes.
VANCE & HINES
Santa Fe Springs, California, USA
Tel: 562 921 7461
sales@vanceandhines.com
www.vanceandhines.com
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