Polaris Industries 1Q Earnings Falls 56 Percent

MINNEAPOLIS (AP) — Polaris Industries Inc., which makes snowmobiles, off-road vehicles and motorcycles, said Thursday its first-quarter income plunged 56 percent as consumers put off purchases of its discretionary vehicles.

But the results beat Wall Street estimates and the company stood by its full-year outlook, sending shares higher in premarket trading.

Polaris said it earned $8.5 million, or 26 cents per share, compared with $19.1 million, or 55 cents per share, in the same quarter last year. Sales fell 20 percent to $312 million. ...