Minneapolis, Minn. - Polaris has pushed forward in sales for the first six months with a 71% increase in sled sales compared to the prior year.
Overall the company's second quarter income was a record $80 million, up from $69.8 million in 2012's second quarter. Sales increased 12% to $844.8 million from $755.5 million. The second quarter ended June 30.
Snowmobile sales for the first six months increased to $23.2 million from $13.5 million last year. For the quarter, sales decreased 5% to $8.5 million from $8.9 million, but second quarter sales are routinely low because of it being the off-season.
Off-Road Vehicles sales rose 7% for the quarter to $619.2 million from $581.1 million in the previous year. As it did in the first quarter, Polaris reports additional market share gains in ATV and side-by-side vehicles. North American ORV dealer inventories were up in the mid-teens compared to the second quarter of 2012 due to new ORV product segments performing well. For the first six months, Polaris reported a 7% increase from $1.085 billion to $1.160 billion.
On-Road Vehicle sales were divided this quarter between Motorcycles and the Small Vehicles division.
"The much anticipated re-launch of Indian Motorcycles has finally arrived, just a few short years after we purchased the brand in 2011... On August 3 at the motorcycle rally in Sturgis, South Dakota, we will officially bring choice, in the form of the oldest American motorcycle company, back to the motorcycle riding community," said Scott Wine, Polaris' Chairman and Chief Executive Officer.
Currently, Motorcycle sales are reported to have dipped 6% both for the quarter, from $53.1 million in 2012 to $49.9 million in 2013, and for the first six months. Sales for 2013 first six months were down $101.7 million from $108 million in 2012. The decline was attributed to the timing of shipments.
The Small Vehicles division saw a 190% increase from $11.6 million in 2012's second quarter to $33.7 million in 2013. For the first six months sales increased 109% to $44.8 million from $21.4 million in 2012. The company acquired Aixam during the second quarter which contributed to the growth.
Parts, Garments and Accessories sales increased 33% for the quarter to $133.5 million from $100.7 million in 2012. The double digit increase was in all product lines. For the first six months sales increased 30% from $200.6 million in 2012 to $260.6 million.
"The second half of 2013 will be a momentous time for Polaris. In the coming weeks we will introduce some of the most exciting products in our history, which we expect will accelerate retail growth for the remainder of the year and beyond," Wine said.
For the full 2013 fiscal year, the company expects income to increase 18% to 20% and sales to grow 13% to 15%.
-By Christie Green