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Harley Davidson posts $105.7M profit for fourth quarte

The Associated Press Published Tuesday, January 24, 2012 11:09AM EST

In this July 20, 2010 photo, motorcycles are reflected in a gas tank at a Harley Davidson dealer in New Berlin, Wis. (AP / Morry Gash)

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NEW YORK - Iconic motorcycle maker Harley-Davidson says higher sales helped it post a $105.7 million fourth-quarter profit, a reversal from a year-ago loss.

Harley-Davidson Inc. reported Tuesday that it had net income of 46 cents per share for the three months ended Dec. 31. That contrasts with a loss of $46.8 million, or 20 cents per share, a year ago.

Excluding discontinued operations, the Milwaukee-based company earned 24 cents per share. Analysts polled by FactSet expected slightly higher adjusted earnings of 25 cents per share.

Revenue rose 12 per cent to $1.03 billion as retail sales of new motorcycles grew 11 per cent worldwide. Analysts expected $1.01 billion in revenue.

Its shares slipped 2 per cent to $41 in early premarket trading.