Harley-Davidson 3Q profit falls on lower shipments - WAOW - Newsline 9, Wausau News, Weather, Sports

Harley-Davidson 3Q profit falls on lower shipments


MILWAUKEE (AP) -- Harley-Davidson says its third-quarter profit slid 84 percent on lower motorcycle shipments and recession-related difficulties in getting loans for its customners.

Harley also plans to stop making Buell motorcycle products and will sell its MV Agusta division. Its shares are down 3 percent in premarket trading.

Harley-Davidson -- which has implemented production and job cuts this year -- said Thursday its earned $26.5 million, or 11 cents per share. That's down from $166.5 million, or 71 cents per share, a year ago.

It says sales dropped 21 percent to $1.12 billion

Analysts forecast profit of 21 cents per share on revenue of $1.1 billion.

Online Reporter: Kelsi Schindler

Powered by Frankly