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For the first time in nearly five years the iconic bar-and-shield brand has reported a year-to-year sales growth and a profit. The second quarter of 2011 has seen 83,396 units sold worldwide. Those numbers, coupled with CEO Keith Wandell’s restructuring efforts, have allowed the company to show profitability for the first time since the fourth quarter of 2006.
As you would expect, the increased sales numbers bring an increase in revenue streams. Luckily for Harley, these revenue streams are not just accounting tricks for the benefit of the banking guys. Increases in the sales of motorcycles and related products grew by 39.2%, accounting for just over $1 billion in revenue. Harley-Davidsons’ Financial Services (HDFS) income was down by 4.5%, but the division’s leaner structure since Wandell took over has made the business unit more profitable, with net proceeds from HDFS increasing 34.9%.
The news sounds great to all of the Average Joe’s, but the Boss Hog has this to say: ”While we are pleased by Harley-Davidson’s second-quarter results, including the strong jump at retail in the U.S., our focus remains squarely on sustaining this progress through the ongoing implementation of our business strategy,” said Keith Wandell, President and Chief Executive Officer of Harley-Davidson, Inc. ”We also believe the continued improvement in our results in the face of ongoing consumer and economic uncertainty speaks to the power of the Harley-Davidson brand globally.”