Harley-Davidson profit jumps 21 pct as sales rise

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Associated Press

Posted on October 22, 2013 at 9:01 AM

Updated Tuesday, Oct 22 at 9:03 AM

MILWAUKEE (AP) — Harley-Davidson's third-quarter earnings rose 21 percent as motorcycle sales rose in the U.S. and abroad.

The Milwaukee company says U.S. sales were up 20 percent from July through September as buyers responded to its new model lineup, introduced in mid-August. The quarter continued the company's comeback from the 2008 economic meltdown.

Harley-Davidson posted net income of $162.7 million, up from $134 million a year ago. That's 73 cents per share, compared with 59 cents in the 2012 third quarter. Revenue rose 8.3 percent to $1.18 billion.

The company matched Wall Street's expectations for the quarter. Analysts polled by FactSet expected earnings of 73 cents per share, on revenue of $1.17 billion.

Harley shares rose $1.03 to $66.60 in trading before the opening bell.

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