Archive for the ‘orv’ Tag

OUR 5TH ANNUAL CHILI COOK-OFF & CHARITY RIDE EVENT IS COMING UP SUNDAY, OCTOBER 6TH, 2013!

Join us for this years Ride to benefit the
Penrickton Center for Blind Children
Sunday, October 6th, 2013!

*Registration begins at 8:30am
*Ride will Depart from Dick Scott’s Classic Motorcycles
at 10am SHARP
*Arrive in Downtown Plymouth to enjoy the Great Lakes Regional Chili Cook-off and Bike Show around 11:15am!

We will have a Police Escort and
VIP Parking when we arrive at the event!

*$10.00 Per Rider
(Includes Police Escort and VIP Parking)

Meet at Dick Scott’s Classic Motorcycles
36534 Plymouth Rd, Livonia, MI 48150 before 10am
RSVP by calling 877-388-9508

chili cook-off flyer-DONE

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2014 Polaris RZR XP 1000

One-upmanship is the name of the game in the side-by-side world, with each manufacturer trying to outdo the competition with more power and better suspension. Every model year the technology and engineering marches forward with new models that seem to render the last batch of high performance rippers obsolete. But how much further can the envelope be pushed before the prices and speeds are just too much for the average Joe. Polaris seems intent on taking it to the limit, and its latest RZR, the $19,999 2014 Polaris RZR XP 1000, might be the machine that is the first to bump up against that ceiling.

The 2014 RZR XP 1000 is a whole new machine from the ground up. It’s bigger, faster and better suspended than any RZR that has come before. Even the most extreme, race-modified side-by-sides from a few years ago couldn’t match the specs offered up by the XP1000. It’s clear this new RZR is the king of the hill even before getting behind the wheel. 107 horsepower, 18 inches of travel, 13.5 inches of ground clearance and a MSRP of $19,999. The numbers are impressive in every way.

We headed to Parker, Arizona to find out if the numbers don’t lie. Polaris set us loose for the day on sections of the Best in the Desert Parker 425 racecourse. That right there shows how much confidence the Minnesota manufacturer has in the XP 1000. Not much is harder on equipment than desert racing and that is effectively what we did for the day.

From the first stab at the gas pedal, it was clear that the power on tap from the XP 1000’s ProStar powerplant is on an entirely new level. The bottom-end grunt that is put to the dirt through the PVT transmission is eye opening. There is so much on tap right from the get-go that you either spin the tires in the loose dirt or get pressed deep into the seat when the traction is good. The power continues to build just as strongly through the mid-range and finally tapers off at the top-end. I’ve never driven a stock machine with so much speed and power on tap. For the first time in a side-by-side, I actually say that this is fast enough. I was never left wanting more.

Throttle response is snappy and along with the strength of the powerplant, breaking the rear end loose in both 2- and 4-wheel drive is easy at just about any speed. And when things go sideways, you’d better be ready. Due to its abundance of suspension travel the XP 1000 has more body roll than previous models, even with a new, larger sway bar. When the weight rolls to the outside of the corner, the rear suspension squats on the gas and lifts the front inside wheel. At first it can be unsettling for a novice driver, but after a few times you adjust your comfort level and driving style. Just don’t expect to jam it into a berm like you would with a slower and lower machine. Respect the power, speed and wheel-travel and all is good.

And, wow, does the RZR XP 1000 have wheel-travel. Up front the 2-inch Walker Evans piggyback shocks stroke through 16 inches, and at the rear massive 2.5-inch units give 18 inches of travel. Just for comparison, the RZR XP 900 has 13.5 and 14.5 inches front and back. Both ends are adjustable for preload and compression, but the stock settings are just about perfect. After slamming through some seriously deep whoops we stopped and added four clicks of compression damping to counter some bottoming of the chassis with two butts in the seats. No other changes were needed for the rest of the day. This RZR just eats up anything you point it at. It is complaint in the small stuff and can handle huge jumps with ease. Although there is no option for rebound damping adjustment, the rear end doesn’t kick up unless the suspension is slammed hard into a steep-faced obstacle. Most of the time it is well controlled and confidence inspiring.

Polaris’ Electronic Power Steering makes tight turns and rock trails a dream. Not once did we experience any kickback to the wheel, and the response is quick. One small criticism is that the front-end feel is slightly numb in comparison to non-EPS machines. The trade-off is quite worth it, however.

Braking performance from the four-wheel disc brakes featuring 248mm rotors and dual piston calipers is spot-on for the speed and weight of the XP. Pedal feel is very positive and the wheels do not lock prematurely. When they do lock, the rear does first allowing the front wheels to continue slowing the machine.

The new cockpit feels slightly larger than the XP 900 and the switchgear, gauges and layout is similar, yet is of higher quality. The glove box is significantly larger and the second center box features a handy smartphone holder. Honestly when I read about this feature I wrote it off as a gimmick, but it is my favorite user feature on the dash. The clear screen allows for you to use your phone as a navigation device.

The addition of half doors to the XP could be the most useful non-performance improvement. No longer do you have to fight with the silly netting and clips when getting in and out of the side-by-side. Opening and closing is easy and secure, thanks to its solid slam latch. I will say that a full door would have been better as roost off the front wheels can enter the opening below the door.

Driver and passenger comfort has also been improved with the new seats. Under-seat sliders allow for easy forward and back adjustment of both the deeply bolstered seats. In the corners they limit side-to-side movement, giving the driver more control. Not to mention they are some of the most comfortable OEM units out there.

The 2014 Polaris RZR XP 1000 has, without a doubt, raised the bar for performance side-by-sides. It is truly the first UTV that requires the driver to be aware of how much power, suspension and handling is on tap and to drive accordingly. It’s an intense experience that even the best drivers will find satisfying. We’ve entered a new era in side-by-sides, one that will take talent and willpower from the one behind the wheel. I can’t wait for what comes next, but for now the XP 1000 is more than enough.

As read on: http://www.motorcycle-usa.com/227/16887/Motorcycle-Article/2014-Polaris-RZR-XP-1000-First-Ride.aspx

POLARIS REPORTS RECORD FIRST QUARTER 2012 RESULTS; EPS INCREASED 27% TO $0.85 ON 25% SALES GROWTH

First Quarter Highlights:

  1. Net income increased 27% to $60.1 million, or $0.85 per diluted share, with sales climbing 25% to $673.8 million, representing a record for first quarter sales and earnings.
  2. Off-Road Vehicle sales increased 30% and On-Road Vehicle sales increased 44% during the 2012 first quarter.
  3. North American retail sales remained strong, increasing 17% in the first quarter compared to a year ago.
  4. Gross profit margins expanded 60 basis points to 28.9% due to manufacturing realignment savings and lower product and warranty costs.
  5. Raising guidance for full year 2012 earnings to a range of $3.85 to $4.00 per diluted share, an increase of 20% to 25% over 2011 based on expected full year 2012 sales growth of 10% to 13%.

 

MINNEAPOLIS (April 18, 2012) — Polaris Industries Inc. (NYSE: PII) today reported record first quarter net income of $60.1 million, or $0.85 per diluted share, for the quarter ended March 31, 2012.  By comparison, 2011 first quarter net income was $47.3 million, or $0.67 per diluted share. Net sales for the first quarter 2012 totaled $673.8 million, an increase of 25 percent from last year’s first quarter sales of $537.2 million.

 

“Our record first quarter results reflect not only the continued strength of our business and solid execution of our strategy, but also a healthy start to the year for our end markets,” commented Scott Wine, Polaris’ Chief Executive Officer.  “Retail sales in the North American off-road vehicle and motorcycle industries are off to their best start in years, and through our innovative products and motivated dealers, Polaris continued to gain market share.  We have significant work to do, but as momentum built throughout the first quarter, we gained confidence that 2012 will be another record year for Polaris, as indicated by our increased full year sales and earnings guidance.”

“Sales increased 25 percent during the first quarter 2012, driven by robust sales of our Off-Road Vehicles and motorcycles.  Customer demand for our broad array of RANGER® and RANGER RZR® side-by-side vehicles continues to exceed our expectations, both in North America and our international markets.  Our international sales, which include the recent acquisition of Goupil, grew 20 percent for the quarter in spite of the continuing EU economic uncertainty.  We are well positioned to meet this higher demand, as we have increased production at our Minnesota, Iowa and Wisconsin plants, while our Monterrey, Mexico plant continues to raise production levels.  In addition, North American dealer inventories remain in line with our previous projections, with decreased ATV inventory year over year and increased side-by-side vehicle dealer inventory to meet the higher demand.  Season-end snowmobile dealer inventory is higher than a year ago due to the poor snowfall, but remains at manageable levels.”

“Looking ahead, strong retail demand in the first quarter and our expectations for the remainder of the year underscores our confidence in raising our full year 2012 guidance for sales and earnings,” continued Wine.  “Cash flow is expected to remain strong and our balance sheet remains solid with $286 million of cash on hand and minimal debt.  Additionally, we are realizing the expected savings from our manufacturing realignment project, which provides support to our ongoing margin expansion efforts.  Given our excellent start, and despite continued caution about the economy in the second half of the year and particularly the fourth quarter, we believe 2012 is shaping up to be another record year for Polaris.”

 

2012 Business Outlook

Based on Polaris’ performance during the 2012 first quarter and projections for the remainder of the year, the Company is increasing its 2012 full year sales and earnings guidance.The Company now expects full year 2012 earnings to be in the range of $3.85 to $4.00 per diluted share, an increase of 20 to 25 percent over earnings of $3.20 per diluted share for the full year 2011.  Sales for the full year 2012 are now expected to grow in the range of 10 to 13 percent.

First Quarter Performance Summary  (in thousands except per share data)

Three Months ended March 31,

Product Line Sales

2012

2011

Change

 Off-Road Vehicles

$ 504,567

$ 388,019

30%

 Snowmobiles

4,647

8,935

-48%

 On-Road Vehicles

64,656

44,908

44%

 Parts, Garments & Accessories

99,880

95,336

5%

Total Sales

$  673,750

$  537,198

25%

Gross Profit

$ 194,963

$ 151,835

28%

Gross profit as a % of sales

28.9%

28.3%

+60 bps

Operating Expenses

$ 110,599

$ 87,538

26%

Operating expenses as a % of sales

16.4%

16.3%

-10 bps

Operating Income

$ 91,547

$ 69,583

32%

Operating Income as a % of sales

13.6%

13.0%

+60 bps

Net Income

$ 60,078

$ 47,310

27%

Net income as a % of sales

8.9%

8.8%

+10 bps

Diluted Net Income per share

$ 0.85

$ 0.67

27%

 

Off-Road Vehicle (“ORV”) sales increased 30 percent from the first quarter 2011 to $504.6 million.  This increase reflects strong market share gains for both ATV and side-by-side vehicles, primarily driven by new product offerings, including the recently introduced RANGER RZR XP4® 900, and increased sales in our military business.  North American consumer ORV retail sales increased mid-twenties percent for the 2012 first quarter from the first quarter last year, with side-by-side vehicle retail sales once again increasing significantly and ATV retail sales increasing double digits percent.  North American dealer ORV inventories for the 2012 first quarter were up slightly from the first quarter of 2011, as additional side-by-sides were shipped to meet increasing demand.  Sales of ORVs outside of North America increased 15 percent in the first quarter 2012 when compared to the first quarter 2011, due to market share gains and positive mix benefit from greater sales of higher priced side-by-side vehicles.

Snowmobile sales totaled $4.6 million for the 2012 first quarter compared to $8.9 million for the first quarter of 2011.  Historically, the first quarter is a slow quarter for snowmobile shipments to dealers.  The North American snowmobile industry finished the selling season in March 2012 with retail sales down less than five percent compared to the prior season, in spite of unusually warm weather and minimal snowfall in many parts of the U.S. Snowbelt regions, whereas Polaris’ retail snowmobile sales for the season were about even with the prior season’s results.  Polaris led the North American industry in market share gains, and recorded its highest season-ending market share since 2004.  Season-end North American dealer inventories for Polaris snowmobiles are higher than last year, but remain manageable given the previous season’s very low dealer inventory levels.  During the first quarter the Company introduced ten new or significantly updated model year 2013 snowmobiles with industry-leading innovation, technology and value, including updated PRO-RMK® models, now lightest in the industry at 417 pounds and an all new version of the legendary Indy model, the new Indy® 600.

On-Road Vehicle sales, comprised primarily of Victory motorcycles, but also including Indian motorcycles and our GEM and Goupil electric vehicles, increased 44 percent over Q1 2011 to $64.7 million.  Notably, the 2011 acquisitions of Indian, GEM and Goupil contributed about half of On-Road Vehicles first quarter revenue growth.  North American industry heavyweight cruiser and touring motorcycle retail sales increased mid-teens percent during the 2012 first quarter compared to the prior year’s first quarter.  Over the same period, Victory North American unit retail sales increased approximately 40 percent, while North American Victory dealer inventory increased slightly versus 2011 levels to support these sales and market share gains.  During the 2012 first quarter the Company began shipments of two new Victory models, the Victory Hard-Ball™ and the new Victory Judge™, an American muscle motorcycle.  Polaris sales of On-Road Vehicles to customers outside of North America, now including Goupil, increased over 100 percent during the 2012 first quarter compared to the prior year’s first quarter.

Parts, Garments and Accessories (“PG&A”) sales increased five percent during the first quarter 2012 compared to the same period last year.  The increase was primarily driven by higher RANGER™ side-by-side vehicle related sales, largely offset by weak snow related PG&A sales due to the unseasonably warm winter.

Gross profit was 28.9 percent of sales for the first quarter of 2012, an increase of 60 basis points from the first quarter of 2011; while over the same period gross profit dollars increased 28 percent to $195.0 million.  The first quarter 2012 increase in gross profit dollars and margin percentage was driven by volume, cost savings from the manufacturing realignment project, continued product cost reduction efforts, lower warranty costs, and higher selling prices, partially offset by commodity cost increases and negative product mix.

Operating expenses for first quarter 2012 grew 26 percent to $110.6 million or 16.4 percent of sales, compared to $87.5 million or 16.3 percent of sales for the first quarter of 2011.  Operating expenses in absolute dollars for the first quarter of 2012 rose primarily due to planned strategic investments and increased research and development activities related to new products under development.

Income from financial services was $7.2 million during first quarter 2012, an increase of 36 percent compared to $5.3 million in the first quarter of 2011, largely due to increased profitability generated from the retail credit portfolios with Sheffield, GE and HSBC.

Non-operating other income was $2.6 million in the first quarter of 2012, as compared to $3.2 million in the first quarter of 2011.  The change in income stems from foreign currency exchange rate movements and the resulting effects on foreign currency transactions and balance sheet positions related to the Company’s foreign subsidiaries from period to period.

The provision for income taxes for the first quarter 2012 was recorded at a rate of 35.1 percent of pretax income compared to 34.5 percent of pretax income for the first quarter 2011.  The higher income tax rate for the first quarter 2012 is primarily due to the United States Congress not yet extending the research and development income tax credit as of March 31, 2012.

Financial Position and Cash Flow

Net cash used for operating activities was $0.7 million for the first quarter ended March 31, 2012 compared to net cash provided by operating activities of $4.8 million for the first quarter of 2011.  The quarter over quarter change in net cash from operating activities is the result of higher net income for the quarter, offset by a higher investment in working capital in the 2012 period, primarily due to the payment of certain accrued compensation liabilities.  Total debt at the end of the first quarter 2012 was $108.1 million.  During the 2012 first quarter, the Company increased its quarterly dividend payment 64 percent to $0.37 per share and paid a total of $25.3 million in dividends to shareholders.  The Company’s debt-to-total capital ratio was 16 percent at March 31, 2012, compared to 34 percent a year ago.  Cash and cash equivalents were $285.9 million at March 31, 2012 compared to $345.9 million for the same period in 2011.

As read on: http://www.polarisindustries.com/en-us/Company/News/Pages/News-Item.aspx?articleID=57