Minneapolis, Minn. - Polaris continues its rush to record sales and earnings for the year with another record breaking quarter. Sales grew 21% for the third quarter to $879.9 million from $729.9 million, and income was up 39% to $94.3 million from $67.6 million for the quarter, which ended Sept. 30. Polaris reports snowmobile sales were up 21% for the third quarter to $114.9 million compared with $95.1 million in 2011’s third quarter. This was attributed to Polaris escalating early season shipments to better coincide with the selling season. Sales outside of North America, primarily in Scandinavia and Russia, increased 20% in the third quarter. Sales for the first nine months grew 16% to $128.4 million, up from $110.9 million the prior year. Strong sales were reported by the OEM in its other key segments. Off-Road vehicle sales grew 18% in the third quarter to $573 million. The increase reflects North America market share gains in ATVs and side-by-side units. For the nine months sales were up 22% to $1.7 billion from $1.4 billion the prior year. International sales decreased 19% in the third quarter because of weak demand in Europe. On-Road vehicle sales, including motorcycles, increased 78% to $63.4 million for the third quarter. Consumer demand for Victory motorcycles was a major contributor. Sales outside North American roared ahead by 150% in the third quarter. Sales of Parts, Garments and Accessories increased by 14% during the quarter to $128.6 million from $112.9 million with all product lines seeing increased sales. “Though we remain vigilant regarding economic developments and their impact on our customers, we are confident in our strategic direction and implementation and are raising our full year 2012 sales and earnings projections,” said Scott Wine, Polaris’ chief executive officer. Polaris expects earnings to grow 35% to 37% from last year’s totals and sales are expected to grow 19% to 20%.
By Christie Green, American Snowmobiler