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Harley-Davidson profit beats consensus by 37.0% in Q4

Harley-Davidson Inc. said its normalized net income for the fourth quarter was 29 cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

In the prior-year period, the per-share result came in at a profit of 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $55.4 million, a decline of 11.3% from $62.4 million in the year-earlier period.

The normalized profit margin fell to 4.7% from 5.2% in the year-earlier period.

Total revenue fell on an annual basis to $1.18 billion from $1.20 billion, and total operating expenses fell year over year to $1.09 billion from $1.10 billion.

Reported net income fell 44.4% on an annual basis to $41.4 million, or 22 cents per share, from $74.4 million, or 35 cents per share.

For the year, the company's normalized net income totaled $3.63 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $3.67.

EPS declined from $3.68 in the prior year.

Normalized net income was $738.4 million, a decrease of 7.9% from $802.1 million in the prior year.

Full-year total revenue fell on an annual basis to $6.00 billion from $6.23 billion, and total operating expenses fell on an annual basis to $4.81 billion from $4.95 billion.

The company said reported net income decreased 11.0% on an annual basis to $751.6 million, or $3.69 per share, in the full year, from $844.7 million, or $3.88 per share.