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Harley-Davidson keeps on biking
Iconic American motorcycle manufacturer Harley-Davidson believes that its sales will hold up despite some concerns on Wall Street about their long-term growth prospects.
Yesterday Harley-Davidson announced record earnings-per-share of 84 cents for the quarter to June 26th 2005.
With demand outstripping supply, the company remains on course to ship its 2005 target of 329,000 motorcycles, which represents a growth rate of 3.7 per cent.
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Harley-Davidson's chief executive officer Jim Ziemer expects this growth to continue, with longer-term growth in motorbike shipments forecast to be between seven and nine per cent.
"Harley-Davidson had a successful second quarter," said Ziemer.
"The company produced record revenue despite lower motorcycle shipments compared to the year ago quarter. We shipped 77,000 motorcycles to our dealers as planned, while retail sales of Harley-Davidson motorcycles grew to record levels of 114,000 units, up nearly six per cent compared to the same period last year.
"In addition, we increased our stock repurchase investment to over $1 billion year-to-date. Earnings per share were at an all-time high for any quarter in our history."
Harleys are among those models enthusiasts like to get comprehensive bike insurance cover for - both from a safety perspective and for the innate worth of the bikes.
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