(Minneapolis, Mn.)– Polaris Industries is reporting an increase in earnings for the first quarter. Company officials say first quarter net income set a new record of $60.1 million for the quarter ended March 31st. That compares with $47.3 million for the first quarter of 2011. Net sales for the first quarter of 2012 totaled $673.8 million, an increase of 25 percent from a year ago. Company officials attribute that to robust sales of its off-road vehicles and motorcycles.
The company also saw a 20 percent growth in international sales for the first quarter.
Company officials are revising upward projections for 2012 full year sales and earnings. They now expect total earnings for the year to range from $3.85 to $4.00 per diluted share…an increase of 20 to 25 percent for the full year of 2011.
Locally, Polaris Industries manufactures off road utility vehicles and Victory and Indian motorcycles at its Spirit Lake plant along with electric cars in a portion of the former Style Craft plant in Milford.
