Bob
26th January 2010, 01:36
Harley-Davidson has posted a loss of USD 218.7 million in the last three months of 2009, compared to a USD 77.8 million profit in the same period in 2008.
Restructuring costs have been cited as a significant factor in the loss – and further restructuring costs of “another USD 175 million to USD 195 million this year” are mentioned, Harley believe that these will result in estimated long-term savings of USD 240 million to USD 260 million per year.
Stating that another difficult year is envisaged, Harley CEO Keith Wandell stated there are positives, such as the relatively strong position of their overseas sales. “If you look at our core motorcycle business, I couldn’t feel any better about where we are in terms of the actions we’ve taken.”
Harley-Davidson share prices fell by 7% after the announcement.
Restructuring costs have been cited as a significant factor in the loss – and further restructuring costs of “another USD 175 million to USD 195 million this year” are mentioned, Harley believe that these will result in estimated long-term savings of USD 240 million to USD 260 million per year.
Stating that another difficult year is envisaged, Harley CEO Keith Wandell stated there are positives, such as the relatively strong position of their overseas sales. “If you look at our core motorcycle business, I couldn’t feel any better about where we are in terms of the actions we’ve taken.”
Harley-Davidson share prices fell by 7% after the announcement.