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Harley-Davidson Stock Plunges

MILWAUKEE, Wis. ( TheStreet) -- Harley-Davidson (HOG - Get Report) stock plunged after the company reported a net loss in the fourth quarter.

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.

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