Harley-Davidson (HOG) beat fourth-quarter earnings targets.

The Milwaukee-based motorcycle company made $252 million, or 97 cents a share, for the quarter ended Dec. 31, up from the year-ago $230 million, or 84 cents a share. Revenue rose to $1.5 billion from $1.34 billion a year earlier.

Analysts surveyed by Thomson Financial were looking for a 96-cent profit on sales of $1.44 billion.

"As we look to the future, we believe Harley-Davidson will deliver EPS growth in the range of 11%-17% each year through 2009," said CEO Jim Ziemer. "On an annual basis we expect solid revenue growth, margin improvement, and the benefits of strong free cash flow to drive this earnings growth."

The company also expects to ship between 82,000 and 84,000 Harley-Davidson motorcycles for the first quarter of 2007.

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