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POLARIS REPORTS RECORD FIRST QUARTER RESULTS; INCREASE ATV, PWC SALES FUEL 53 PERCENT REVENUE GROWTH

 MINNEAPOLIS, April 22 /PRNewswire/ -- Polaris Industries Partners L.P. (AMEX: SNO) today announced record sales and earnings for the first quarter of 1993, fueled by continued demand for its all-terrain vehicle (ATV) and personal watercraft (PWC) products.
 For the first quarter ended March 31, 1993, Polaris recorded sales of $107,115,000, a 53 percent increase over sales of $70,227,000 for the same quarter last year. Net income of $6,138,000, or $0.60 per unit, was almost triple the net income of $2,133,000, or $0.22 per unit for the first quarter of 1992.
 Polaris general partner, Victor K. Atkins, Jr., said the increase in sales and net income was attributed to the partnership's successful entry into the PWC market plus continued record demand for ATV products for recreation and utility use.
 "Historically our first quarter has been dedicated to ATV production," he explained. "The addition of PWC sales and earnings has resulted in a significant increase in operating results for the quarter."
 Atkins also said, "The financial condition of the partnership remains strong. At March 31, 1993, the partnership had cash and cash equivalents of $14.2 million versus $4.9 million at March 31, 1992. The partnership generated cash flow from operating activities of $10.3 million for the first quarter of 1993 compared to a negative $2.4 million in the prior year period."
 Atkins continued: "We expect to declare our next quarterly distribution of $1.25 per unit in June. This distribution will be payable on or about Aug. 16, 1993 to holders of record on June 15, 1993."
 Record Production, Sales Projected for 1993
 The partnership anticipates that demand for snowmobile, ATV and PWC products will increase over 1992 levels, and the full year 1993 should result in another record year for sales and net income for the partnership. However, certain quarter-to-quarter results may not be comparable due to differences in product mix, shipment dates and currency fluctuations.
 Atkins also said unit holders will soon vote on the partnership's planned two-for-one split. Documents have been filed with the Securities and Exchange Commission, and consent statements will be mailed to unit holders on April 30. The split will require the consent of two-thirds in interest of Polaris unit holders and limited partners.
 The record date for unit holders entitled to vote on the consent was April 15. The consent voting period ends on July 15, 1993. If approved, the split will occur shortly thereafter.
 Polaris Industries Partners L.P. is a master limited partnership which owns and operates Polaris Industries L.P. Polaris designs, engineers, manufactures and markets snowmobiles, all-terrain vehicles and personal watercraft for recreational and utility use. Polaris is the world's largest snowmobile manufacturer, and the largest U.S. manufacturer of ATVs and personal watercraft. Polaris Industries Partners L.P. trades on the American Stock Exchange and Pacific Stock Exchange under the symbol "SNO."
 POLARIS INDUSTRIES PARTNERS L.P.
 Statement of Operations
 (in thousands, except per-unit data)
 First Quarter Ended
 3/31/93 3/31/92
 Sales $107,115 $70,227
 Cost of sales 81,367 53,439
 Gross profit 25,748 16,788
 Operating expenses 16,798 13,118
 Operating income 8,950 3,670
 Non-operating expense, net 2,812 1,537
 Net income 6,138 2,133
 Allocation of net income to:
 General partner 1,277 444
 Limited partners 4,861 1,689
 Net income per unit $0.60 $0.22
 Weighted average number of BAC's
 and BAC equivalents outstanding 8,063 7,794
 Cash distributions declared per unit $1.25 $1.25
 -0- 4/22/93
 /CONTACT: Victor K. Atkins, Jr. of EIP Capital, 516-283-1915, or W. Hall Wendel, Jr. of Polaris Industries, 612-542-0500/
 (SNO)


CO: Polaris Industries, Inc. ST: Minnesota IN: LEI SU: ERN

AL -- MN018 -- 9514 04/22/93 13:32 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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