record profits at polaris

Medina, Minnesota-based Polaris Industries reported increased profits of 11 percent to $35 million, or $1.51 per diluted share, as sales grew 3 percent to $431.5 million for its fourth quarter ended Dec. 31.

Reporting annual record profits of $103.6 million, or $4.39 per diluted share, on sales of $1.52 billion, Polaris showed a 13 percent increase in year-to-date profits on a 2 percent increase in sales.

The largest growth leader was the motorcycle line that showcased an all-new stylized low-riding boulevard bike that sells for about $12,999. The Victory line of motorcycles recorded an 81 percent leap in sales for the year. Victory was introduced in1998 to under whelming success, but last summer's introduction of the Victory Vegas has generated extremely healthy buzz among bikers.

ATVs have continued to roll profitability forward as sales increased by 13 percent. On the down slope, snowmobile sales slumped by 21 percent. In the fourth quarter, ATV sales were up 12 percent and snowmobile sales were off by 16 percent compared to a year earlier.

Dismal sled sales have also hampered growth in the profitability of Polaris' Parts, Garments & Accessories (PG&A) group.