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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: Sig who wrote (4052)	10/9/2001 6:46:23 PM
From: Venkie	Read Replies (1) \| Respond to of 13815

Tuesday October 9, 6:35 pm Eastern Time Harley-Davidson Q3 climbs, ups 2001 production (UPDATE: Changes dateline to New York, adds byline, comments) By Patrick Markey NEW YORK, Oct 9 (Reuters) - Harley-Davidson Inc. (NYSE:HDI - news), the famed motorcycle manufacturer, said on Tuesday that its third-quarter profits climbed 34 percent as demand for its distinctive models surged through the lingering economic downturn. ADVERTISEMENT Milwaukee-based Harley-Davidson -- which makes the popular Fat Boy and Road King motorbikes -- said it had increased its production targets for the year even as U.S. automakers have signaled they will slow production to match weaker sales. Harley reported earnings of $111 million, or 36 cents per share, compared with $83 million or 27 cents per share a year earlier. Wall Street analysts polled by research firm Thomson Financial/First Call expected third-quarter earnings in the range of 32 cents to 35 cents a share with a consensus of 33 cents a share. It said sales for the quarter increased 19.1 percent, to $850.8 million compared with $714.1 million a year earlier. The manufacturer increased motorcycle production targets for 2001 to 232,500 from 231,000 units. ``We remain confident in the continued long-term growth of Harley-Davidson,'' said Jeffrey Bleustein, the firm's chairman and chief executive. Executives said while retail sales slowed during the first few days after the Sept. 11 attacks, especially in the New York and Washington areas, sales soon rebounded to expected levels. Quarterly sales of Harley-Davidson motorcycles climbed 21 percent, to $638.2 million, while shipments totaled 56,611 units, up 8,534 units, or 17.8 percent, from a year earlier. Sales of parts and accessories also increased 12.6 percent. ``This is vintage Harley. This is their quarterly (modus operandi), to exceed expectations and demonstrate strong evidence of execution,'' said Credit Suisse First Boston analyst Scott Barry. Retail sales through September in the United States grew 14.9 percent while in Japan those sales increased 7.5 percent. But retail sales in Europe slipped 4.3 percent through September mainly due to the strong dollar. Harley-Davidson benefited from a strong domestic sales a richer mix in its shipment of motorcycles offering more higher-margin models, said AG Edwards analyst Tim Conder. Conder said Harley-Davidson will also benefit from the introduction next month of its new V-Rod model -- the lighter, sportier bike it hopes will draw a new generation of riders -- and in 2002 from its 100th Anniversary models. In its financial business, Harley-Davidson said it expects operating income to be about 60 percent higher than its full-year 2000 performance. While Harley-Davidson stock pared some value during August and after the Sept. 11 attacks, the shares closed Tuesday trading up 7.4 percent over the start of the year, outperforming the broader S&P 500 index (^SPX - news), which is down nearly 20 percent over the same period. Harley-Davidson shares closed at $42.59 at the end of Tuesday trading on the New York Stock Exchange.