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Harley-Davidson Management Discusses Q2 2012 Results - Earnings Call Transcript

This morning, you'll hear from Harley-Davidson's CEO, Keith Wandell; CFO, John Olin; and President of Harley-Davidson Financial Services, Larry Hund. Then we'll open the call for your questions.

So let's get started. Keith?

Keith E. Wandell

Thanks, Amy. Good morning, and thanks, everyone, for joining us on the call. We appreciate your spending this time with us today and for your interest in Harley-Davidson. As you saw on this morning's earnings release, Harley-Davidson reported continued strong performance, including EPS growth of 32% for the second quarter and retail sales that exceeded our expectations through the first 6 months. We believe these results are a reflection of the effective implementation of our business strategy, combined with strong dealer execution at retail. Our strategy provides the roadmap for success over the long term through exceptional product development, manufacturing and retail capabilities. And I want to recognize all the continued outstanding work by our employees, our dealers and suppliers who are making such a difference. Together, we're doing great things working as one team moving in one direction to deliver for our customers.

Among the many initiatives underway as part of Harley-Davidson's strategy is the installation of our ERP system at our vehicle operations in York. The migration of data from legacy systems to the new ERP system in early July went extremely well. This has been followed by a ramp up of production under the new ERP system in York, which also is going according to plan. You don't have to look any further than this truly outstanding job to understand the passion and the dedication of our employees.

The implementation of the ERP at York supports our efforts to introduce greater flexibility in manufacturing. In the years to come, we expect to have much greater ability to produce any bike on any line, anywhere. Among the other benefits, ERP enhances our ability to expand Harley-Davidson's leadership in factory customization over time. It's a win for the company, for our shareholders and our dealers and a big win for our customers.

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