Polaris Industries increased its previously issued guidance for sales and earnings per share for its first quarter of 2008 thanks to increase in UTV and PG&A sales, the company said in a statement Feb. 28.
First quarter 2008 earnings from continuing operations are now expected to be in the range of $0.44 to $0.49 per diluted share, a $0.05 per share increase over the previously issued guidance range. This compares to $0.34 per diluted share from continuing operations earned in the first quarter of 2007.
The company expects sales to increase in the range of 15-18 percent for the first quarter over the prior year period.
The increases in the first-quarter sales and earnings per share guidance is primarily the result of better PG&A and side-by-side vehicle businesses during the first two months of the year. The Federal Reserve Board’s move to cut interest rates during the first quarter also had an impact.
Good snowfall in much of North America has contributed to a longer snowmobile riding season, which is positively impacting snowmobile-related PG&A sales in the first quarter, Polaris said. Demand for the company’s UTV vehicles, particularly the new Ranger RZR and Ranger Crew, continues to be strong during the first quarter of 2008.