Harley-Davidson Inc. (NYSE:HOG) released Q3 results last Friday (10/19) and said it expects its current "weakness" to persist into 2008. Shares of Harley have been treading water since announcing Q3 profit fell 15.3% due to weak sales of its motorcycles, so what's next?
Harley's Q3 07 U.S. Net income totaled $265 million, or $1.07 per share, compared with a profit of $312.7 million, or $1.20 per share, a year ago. Revenue dropped 5.8% to $1.54 billion from $1.64 billion last year. Worldwide retail sales of Harley-Davidson motorcycles were flat in the quarter, down 0.2 percent and shipments were down 10.8% to 86,535 units. Domestically, sales were down 2.5%, while the overall U.S. heavyweight market fell 4.4%. International sales were up 8.8%.
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