Well, at least for the first quarter. They will no doubt rebound from the February strike in the second quarter as they make up for the lost production. Topix has the story-
Sagging U.S. sales and a three-week strike at Harley-Davidson Inc.’s largest production plant caused the motorcycle maker’s profit to drop 18 percent in the first quarter.
The iconic motorcycle maker announced Thursday net income for the quarter ended April 1 totaled $192.3 million, or 74 cents per share, compared with a profit of $234.6 million, or 86 cents per share, a year ago. Revenue dropped 8.3 percent to $1.18 billion from $1.29 billion last year.
‘Everybody knew about the strike. That was not surprising to anybody,’ said Jim Ziemer, Harley’s chief executive officer.
Despite the decline, earnings still beat Wall Street projections. Analysts had expected a profit of 72 cents per share on revenue of nearly $1.1 billion, according to a poll by Thomson Financial.
Harley shares rose $2.30, or about 3.8 percent, to $63.56 in afternoon trading Thursday on the New York Stock Exchange.
Shipments were down 14.8 percent to 67,761 units in the quarter, above Harley’s previously reduced shipment guidance of between 64,000 and 66,000 bikes. Harley had said the strike would mean the loss of about 14,000 bikes for the year.
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