Harley-Davidson Trims Motorcycle Forecast

Harley-Davidson narrows its guidance for full-year shipments after reporting a decrease in third-quarter retail sales of new motorcycles.
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NEW YORK (TheStreet) -- Harley-Davidson (HOG) - Get Report narrowed its guidance for full-year shipments after reporting a decrease in third-quarter retail sales of new motorcycles.

The company now expects to ship 207,000 to 212,000 Harley-Davidson motorcycles to dealers, a decrease of about 5% to 7% from 2009. Prior shipment guidance was 201,000 to 212,000 motorcycles.

For the third quarter, Harley-Davidson reported income from continuing operations of $93.7 million, or 40 cents a share, compared with income of $56.4 million, or 24 cents a share, a year earlier.

Net revenue was $1.09 billion, compared with $1.12 billion the previous year. On average, analysts were expecting earnings of 36 cents on revenue of $1.1 billion.

Third-quarter retail sales of new Harley-Davidson motorcycles decreased 7.7% worldwide, 9.4% in the U.S. and 3.6% in international markets from the year-earlier period.

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