Polaris boosts second quarter income

Polaris Industries Inc. has increased sales and income for the 2008 second quarter, beating its own expectations despite the poor economy, the company said in a press release July 15. Side-by-side, international and PG&A results were strong during the period.

Second quarter sales reached a record high of $455.7 million. The sales increase was driven by strong ATV sales growth, which was up 24 percent. Polaris attributed the segment’s growth to increased Ranger sales, as well as international and PG&A sales growth.

Net income for the quarter also reached record levels. Polaris reported $24.4 million in net income from continuing operations for April-June 2008. The amount was 6.6 percent higher than the $22.9 million in net income the company reported for the second quarter of 2007.

Gross margin percentage for the second quarter 2008 improved to 23.7 percent due primarily to positive product mix changes, Polaris said.

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