Harley-Davidson Stock Plunges

MILWAUKEE, Wis. ( TheStreet) -- Harley-Davidson ( HOG) stock plunged after the company reported a net loss in the fourth quarter.

Harley-Davidson stock has fallen 4.7% to $24.40 in morning trading.

Harley-Davidson reported a net loss of $218.7 million or diluted losses per common share of 94 cents vs $77.8 million or 34 cents in the same period last year.

"Our full-year 2009 results were affected by the difficult economy, as well as the planned actions we took that resulted in restructuring charges of $224 million," Keith Wandell, Harley-Davidson's chief executive officer said in a statement. "We are confident we have made the right decisions for our future, and we are executing our strategy with focused intensity."

The company posted net revenue of $764.5 million in the fourth quarter, down 40% compared with results from the same period the year before.

A survey of analysts by Thomson Reuters estimated a loss of 32 cents a share on revenue of $764.4 million.

Harley-Davidson said for 2010 the company expects to ship 201,000 to 212,000 Harley-Davidson motorcycles to dealers and distributors worldwide -- a reduction of 5% to 10% from 2009.

In the first quarter of 2010, Harley-Davidson expects to ship 52,000 to 57,000 motorcycles.

Other companies in the motorcycle space have been trading in mixed territory.

Polaris Industries ( PII) has edged lower to $43.80, down 0.9%. Meanwhile, Kandi Technologies ( KNDI) has fallen 2.7% to $5.

-- Reported by Andrea Tse in New York

>>See our new stock quote page.

Follow TheStreet.com on Twitter and become a fan on Facebook.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

More from Stocks

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%

Replay: Jim Cramer on the Markets, 10-Year Yield, Oil Prices and Foot Locker

Replay: Jim Cramer on the Markets, 10-Year Yield, Oil Prices and Foot Locker