MILWAUKEE (WTAQ) – Harley-Davidson blames a stronger U.S. dollar for a reduction in its quarterly earnings.
The Milwaukee-based firm reports a net income of $35.9 million in its motorcycle operations from October through December. That’s 41 percent less than the same time a year ago.
The company blames it on foreign exchange rates, as sales in other countries have resulted in fewer U.S. dollars coming back.
All told, Harley made $74.5 million in its fiscal fourth quarter, down from $75.4 million in the same period of 2013. Stockholder earnings were 35 cents a share, up from 34 cents a year ago when more shares were outstanding.
Despite the declines, Harley’s earnings still exceeded the 33 cents per share which was forecast by Zachs Investment Research.
Total revenues were $1.03 billion in the last quarter, down from the projected $1.06 billion.
(Story courtesy of Wheeler News Service)
