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Tuesday, October 18, 2011

Harley-Davidson 3Q Sales Disappoint Wall Street

Harley-Davidson (HOG) revealed on Tuesday a stronger-than-expected 106% improvement in third-quarter profit, however its shares slipped as the company missed Wall Street's sales forecast and the retailer expressed financial cautiousness ahead.

The motorcycle maker posted net income of $183.6 million, or 78 cents a share, compared with $88.83 million, or 40 cents a share, in the same quarter last year. The results were ahead of average analyst estimates polled by Thomson Reuters of 76 cents.

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