Harley-Davidson (HOG, 48.95) announced Friday a 15.3% year-over-year decrease in its third quarter income, equal to $265 million. The results, however, surpassed the street's revised expectations. Earnings per share declined 10.8% to $1.07, which was three cents better than the consensus estimate.
Early in September, Harley-Davidson lowered its outlook for the third quarter, citing an anticipated decrease in shipments amid a softened economic outlook and tighter credit conditions.
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It is really bad news for the HOG share owners. As its profit of the 3rd quarter declines, the price of its share decrease too. Many frends I meet on a site calld bikerkiss are HOG share owners. They say they feel very sad. But they think Harley will turn iits declined situation sooner or later.
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