Polaris Industies reported an 18-percent decline in net income for its 2006 fiscal year, which ended Dec. 31. Overall sales decreased 11 percent, including nearly a 40 percent drop in snowmobile sales to $156.9 million from $256.6 million in 2005.
“This past year proved to be challenging for us,” Polaris CEO Tom Tiller said in a press release. “We did, however, finish in line with our previously issued guidance and continue to make good progress in getting our business back on track.
“The snowmobile market has remained difficult as inadequate early season snowfall across most of the North American snowbelt continued to negatively impact our results,” Tiller said.
Read more about Polaris’ fiscal year in the upcoming Feb. 12 edition of Powersports Business.