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Polaris Industries Inc. (NYSE:PII) today reported record net income of $1.31 per diluted share for the fourth quarter of 2009, an 18 percent increase from $1.11 per diluted share for the prior year period. Net income for the fourth quarter 2009 was $43.9 million, representing an increase of 21 percent from the prior year’s fourth quarter net income of $36.2 million. Sales for the quarter decreased 10 percent to $471.8 million, compared to last year’s fourth quarter sales of $523.6 million.
For the full year ended December 31, 2009, Polaris reported net income of $101.0 million, or $3.05 per diluted share, compared to $117.4 million, or $3.50 per diluted share, for the year ended December 31, 2008, representing a 13 percent decrease on a per diluted share basis. Sales for the full year 2009 totaled $1,565.9 million, a decrease of 20 percent compared to record sales of $1,948.3 million for the full year 2008.
20% drop in sales for 2009 compared with 2008.
Hopefully their sales can start rebounding soon!
