Harley Davidson ( HDI ) tacked on another victory lap in the first quarter, as the motorcycle maker easily beat earnings expectations in posting record results again.

The Milwaukee-based company had a profit of $204.6 million, or 68 cents a share, on revenue of $1.17 billion, compared with net income of $186.2 million, or 61 cents a share, on revenue of $1.11 billion a year ago.

The consensus estimate of analysts was for net income of $192.6 million, or 64 cents a share, on revenue of $1.16 billion, according to Thomson First Call.

Gross margin in its core motorcycles business rose to 37.8% of revenue. Worldwide sales rose 11.6%

The company said its U.S. dealer network posted the best first-quarter sales in its history, with sales up 13% from a year ago, compared to 36.2% in the first quarter of last year.

Harley-Davidson said it is on track "to deliver an annual earnings growth rate in the mid-teens."

Shares closed at $55.63 Tuesday, just off their 52-week intraday high.

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