Harley-Davidson stock has fallen 4.7% to $24.40 in morning trading.
Harley-Davidson reported a net loss of $218.7 million or diluted losses per common share of 94 cents vs $77.8 million or 34 cents in the same period last year.
"Our full-year 2009 results were affected by the difficult economy, as well as the planned actions we took that resulted in restructuring charges of $224 million," Keith Wandell, Harley-Davidson's chief executive officer said in a statement. "We are confident we have made the right decisions for our future, and we are executing our strategy with focused intensity."The company posted net revenue of $764.5 million in the fourth quarter, down 40% compared with results from the same period the year before. A survey of analysts by Thomson Reuters estimated a loss of 32 cents a share on revenue of $764.4 million. Harley-Davidson said for 2010 the company expects to ship 201,000 to 212,000 Harley-Davidson motorcycles to dealers and distributors worldwide -- a reduction of 5% to 10% from 2009.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV