Forecast dulls better-than-expected 3Q for Harley

Harley-Davidson Inc. cut its full-year profit margin forecast, citing uncertainty over foreign exchange rates, and said production constraints had curbed shipments of its more expensive bikes in the third quarter.

Shares of the motorcycle maker fell as much as 9.4 percent as investors shrugged off earnings that beat analysts' estimates.

Harley-Davidson, which is restructuring its manufacturing operations, said it expected gross margins of 33.5 to 34.5 percent for 2011, down from a forecast of 34 to 35 percent.

"We remain cautious about consumer confidence and the economy in general," Harley-Davidson Chief Executive Keith Wandell said on a conference call. "We will continue to manage the company prudently."

Read Full Article from Chicago Tribune

- Posted: 2011-10-18 14:30:05

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