Polaris Industries reported a 15 percent increase in second-quarter net income on Tuesday, and has raised its outlook for the year.
The Economic Times said the Minneapolis-based company cited strong sales of its all-terrain vehicles and other power sports products. Polaris reported an 11 percent increase in sales in North America, offsetting slower consumer demand on the international market.
The Associated Press reports the rise in second-quarter net income is attributed to higher selling prices and ongoing efforts to lower product costs.
For the period ended June 30, Polaris Industries Inc. earned $80 million, or $1.13 per share. That compares with $69.8 million, or 98 cents per share, a year ago. The Minneapolis company now anticipates full-year earnings of $5.20 to $5.30 per share, up from $5.05 to $5.20 per share.