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POLARIS EXPECTS HALF-BILLION IN SALES AND RECORD EARNINGS FOR 1993

 MINNEAPOLIS, Oct. 21 /PRNewswire/ -- Polaris Industries Partners L.P. (AMEX: SNO) today reported increased third quarter and record year- to-date results, attributing dramatic increases in sales and earnings to continued strong demand for its snowmobile, all-terrain vehicle (ATV) and personal watercraft (PWC) products.
 The partnership also is anticipating a strong fourth quarter and record 1993 full-year results based on current sales and production figures. Full-year sales for the partnership are expected to exceed $500 million, up over 30 percent from last year's record results. Earnings also are expected to be up significantly over 1992.
 For the first nine months of 1993 the partnership reported record sales of $385,153,000, up 39 percent over the same period last year. Year-to-date earnings were $31,442,000 or $1.54 per BAC unit, an increase of 30 percent and 27 percent compared with earnings of $24,164,000 or $1.21 per BAC unit in 1992.
 Sales for the third quarter ended Sept. 30, 1993, were $166,803,000, an increase of 37 percent over the same period last year. Earnings for the third quarter were $18,762,000 or $.92 per BAC unit, up 18 percent from $15,850,000 or $.78 per BAC unit in 1992. All net income-per-unit calculations are adjusted to reflect the recent two-for-one split of Polaris units.
 Polaris Chief Executive Officer Hall W. Wendel, Jr. said, "The record results are attributed to continued strong demand for all snowmobile, ATV and PWC products coupled with a significant increase in manufacturing capacity through the addition of a fourth assembly line that produces ATVs year-round at the partnership's Roseau, Minn., manufacturing facility.
 "Retail demand for both Polaris snowmobiles and ATVs is at a record level," Wendel added, "and we expect this strong demand to continue through the late fall and early winter selling season. Season-end dealer inventories of ATVs and PWCs are again at their lowest levels."
 The financial condition of the partnership remains strong. On Sept. 30, 1993, Polaris reported no long-term debt, with cash and cash equivalents of $14,514,000, up 97 percent from the same period one year ago. Cash flow for the first nine months of 1993 was $43,116,000, up 45 percent over the same period last year.
 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.
 STATEMENTS OF OPERATIONS
 (in thousands, except per-unit data)
 Third quarter ended Year to date
 9/30/93 9/30/92 9/30/93 9/30/92
 Sales $166,803 $121,548 $385,153 $277,242
 Cost of sales 118,207 81,337 282,420 195,955
 GROSS PROFIT 48,596 40,211 102,733 81,287
 Operating expenses 23,652 19,125 59,616 47,770
 OPERATING INCOME 24,944 21,086 43,117 33,517
 Non-operating
 expense, net 6,182 5,236 11,675 9,353
 NET INCOME $18,762 $15,850 $31,442 $24,164
 Allocation of net
 income to:
 General Partner 3,902 3,296 6,540 5,026
 Limited Partners 14,860 12,554 24,902 19,138
 NET INCOME PER UNIT DATA
 (Reflects two-for-one split, August 1993)
 Net income per unit $.92 $.78 $1.54 $1.21
 Weighted average
 number of BACs,
 Class B BACs and
 BAC equivalents 16,125 16,012 16,125 15,871
 Cash distributions
 declared per unit $.63 $.625 $1.88 $1.875
 -0- 10/21/93
 /CONTACT: Hall Wendel, Jr., of Polaris Industries L.P., 612-542-0500; Dave Mona or John Shaughnessy of Mona Meyer McGrath & Gavin, 612-832-5000, for Polaris/
 (SNO)


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

CP-AL -- MN017 -- 5204 10/21/93 12:16 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
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