Polaris Industries closed in on its off-road vehicle competitors over the summer, but its line of Victory motorcycles aren’t selling well.
Overall, sales for the three months ending Sept. 30 were down 25 percent, compared with the same period a year ago. The company still turned a $31 million profit, a 17 percent decrease from a year ago.
“While the economic environment remains challenging, we continue to take the long view and invest in the business for future growth and profitability,” CEO Scott Wine said in the company’s statement.
Polaris introduced more than 25 new products in July, many of them meant to appeal to “the value-oriented consumer.” Garment and accessory sales were better than expected for the quarter, too, the company said.
And the company is more optimistic about the year as a whole. It said based on orders from dealers for its new model year 2010 products, it now expects to make between $2.92 and $2.98 per share, up from its previous estimate of $2.70 to $2.90 per share.