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TheStreet Open House

Harley-Davidson CEO Discusses Q3 2010 Results - Earnings Call Transcript

Keith Wandell

Thank you, Amy; and good morning and thanks everyone for joining us on the call today. As I look at where Harley-Davidson stands today, it is clear to me that we are making solid progress against our goal, which is to transform our business at all levels so that we can succeed not only at today's volumes, but more importantly, grow and restore greater profitability over the long term.

Without question, a lot of hard work lies ahead, along with many challenges. The economy is yet to turn around in a convincing way, and many consumers remain on the sidelines. However, as I look at all we have accomplished since we announced our new strategy to deliver results through focus, one year ago almost to this day, I am proud of everyone in our organization. Through the outstanding efforts of our entire team, we are bringing our strategy of focus on the Harley-Davidson brand to life.

So let me start off with a thank you to all of our employees. You are showing that as one company, one team, working in one direction, we have accomplished a lot. Also, I want to thank our dealers, who in most of our global markets have faced the toughest business climate in their lifetimes. But our market share gains demonstrate that working together, Harley-Davidson and its dealers continue to provide a great lifetime experience for our customers.

What we set out to do one year ago was nothing short of transforming our company and our business and there is no aspect of our business that is going untouched or unchallenged. In this process, we believe we are positioning Harley-Davidson for future prosperity.

Let me review some of what we have accomplished. We have begun to implement a new operating structure at our York plant, enabled by a new labor agreement. This new continuous improvement production system focuses on greater flexibility or surges to meet seasonal and other volume needs, and enhance stability to vary product mix in line with customer expectations and greater production efficiency overall.

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