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POLARIS ANNOUNCES RECORD YEAR-END, FOURTH QUARTER RESULTS; PARTNERSHIP TO CONTINUE $5/UNIT CASH DISTRIBUTION IN 1993

 MINNEAPOLIS, Feb. 17 /PRNewswire/ -- Citing increased demand across all product lines and improved manufacturing and cost control measures, Polaris Industries Partners L.P. (AMEX: SNO) today announced record 1992 year-end and fourth quarter revenues and net income. The partnership also announced it will continue per-unit cash distributions of $1.25 per quarter in 1993.
 For the year ended Dec. 31, 1992, the partnership reported record revenues of $383,818,000, up 29 percent over 1991 revenues of $297,677,000. The partnership said 1992 net income of $34,701,000 increased 10 percent over 1991 net income of $31,462,000. Net income per unit for 1992 was a record of $3.46, compared with $3.31 for 1991.
 Victor K. Atkins, Jr., general partner, said the record year-end and fourth-quarter results reflect continued market strength for all Polaris products including snowmobiles, all-terrain vehicles (ATVs) and personal watercraft (PWC). For the year, snowmobile sales increased 17 percent, and ATV sales were up 29 percent over 1991.
 Atkins said the partnership's new personal watercraft products also had a significant impact on 1992 sales. The initial year of PWC production generated 7 percent of total 1992 sales.
 At year end the partnership had cash and cash equivalents of $19,094,000 and no significant short- or long-term debt. The partnership generated record cash flow from operating activities of $55,316,000 or $5.52 per unit in 1992, compared to $46,642,000 or $4.91 per unit in 1991.
 Revenues for the fourth quarter ended Dec. 31, 1992, were $106,576,000, an increase of 83 percent over 1991 fourth quarter revenues of $58,365,000. Net income for the quarter was $10,537,000, a significant increase over net income of $1,640,000 for 1991. Fourth quarter net income per unit rose to $1.04, compared to $.17 reported for the same period last year.
 Atkins said the increase in fourth quarter revenue and net income was attributed to a shift of production and sales of high-margin snowmobiles to the fourth quarter to accommodate the record demand for ATV products. This shift was anticipated and reflects that certain quarter-to-quarter results are not comparable due to differences in product mix and shipment dates.
 He also said the outlook for 1993 is strong. "The past year exceeded our expectations with strong retail sales growth in all product lines, and field inventories are at their lowest levels in history," Atkins said.
 "The partnership expects continued strong demand for all products in 1993," he added. "As a result we are very optimistic that growth in revenues and net income will continue for the coming year."
 Partnership to continue $5 cash distribution in 1993:
 Polaris also announced it will continue its $5 per-unit per-year cash distribution in 1993. Since its inception as a limited partnership in September 1987, Polaris has paid or declared cash distributions of $22.69 per unit.
 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, ATVs and PWC for recreational and utility use. Polaris is the world's largest snowmobile manufacturer, and the largest U.S. manufacturer of ATVs and PWC. 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
 1992 FOURTH QUARTER, YEAR-END RESULTS
 (In thousands, except per-unit data)
 Fourth Quarter Ended Year Ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Sales $106,576 $58,365 $383,818 $297,677
 Cost of sales 73,244 40,743 269,199 201,883
 Gross profit 33,332 17,622 114,619 95,794
 Operating expenses 19,777 13,881 67,547 56,966
 Operating income 13,555 3,741 47,072 38,828
 Non-operating expense, net 3,018 2,101 12,371 7,366
 Net income $10,537 $1,640 $34,701 $31,462
 Allocation of net income to:
 General partner 2,193 341 7,218 6,544
 Limited partners $8,344 $1,299 $27,483 $24,918
 Net income per unit $1.04 $.17 $3.46 $3.31
 Weighted average number of
 BACs and BAC equivalents
 outstanding 7,987 7,538 7,934 7,531
 Cash distributions declared
 per unit $1.25 $1.25 $5.00 $5.00
 -0- 2/17/93
 /CONTACT: Victor K. Atkins, Jr., 516-283-1915 or Hall Wendel, Jr., 612-542-0500, both of Polaris Industries L.P.,; or Dave Mona or John Shaughnessy, of Mona Meyer McGrath & Gavin, 612-832-5000, for Polaris/
 (SNO)


CO: Polaris Industries Partners L.P. ST: Minnesota IN: LEI SU: ERN

KH -- MN006 -- 7337 02/17/93 12:23 EST
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Date:Feb 17, 1993
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