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Harley-Davidson fiscal Q2 profit falls 12.5% YOY

Harley-Davidson Inc. said its normalized net income for the fiscal second quarter ended June 26 came to $1.40 per share, compared with the S&P Capital IQ consensus estimate of $1.53 per share.

In the prior-year period, the per-share result was a profit of $1.39.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $253.7 million, a decrease of 12.5% from $290.0 million in the year-earlier period.

The normalized profit margin declined to 13.6% from 15.9% in the year-earlier period.

Total revenue grew year over year to $1.86 billion from $1.82 billion, and total operating expenses grew 6.4% year over year to $1.45 billion from $1.36 billion.

Reported net income fell 6.4% from the prior-year period to $281.1 million, or $1.55 per share, from $300.4 million, or $1.44 per share.