Harley-Davidson profit up 30 pct on U.S. demand

(Credit: Harley-Davidson)

(AP) MILWAUKEE - Harley-Davidson Inc. (HOG) says its second-quarter net income jumped 30 percent on higher U.S. demand for motorcycles.

Harley reported net income of $247.3 million, or $1.07 per share, for the three months ended July 1. That's up from $190.6 million, or 81 cents per share, a year ago.

Analysts polled by FactSet expected earnings of $1.05 per share.

Revenue jumped 17 percent to $1.57 billion. That was below average Wall Street expectations of $1.64 billion. The company says its sales were hurt by warmer-than-usual weather in the first quarter that pulled forward some sales.

By volume, retail sales of new bikes rose 2.8 percent worldwide, while U.S. unit sales increased 4 percent.

Harley says it's cautious about its prospects for the rest of the year, given the economic uncertainty, especially in Europe.

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