Polaris Industries Inc (PII), a maker of off-road vehicles and snow mobiles, Wednesday posted higher earnings for the third quarter, helped by an 18 percent year-over-year growth in net sales.
The company's net income improved to $140.8 million or $2.06 per share from $113.1 million or $1.59 per share a year ago. Earnings per share from continuing operations climbed to $2.06, up from $1.64 in the prior year period.
On average, 15 analysts polled by Thomson Reuters expected the company to earn $2.02 per share for the quarter. Analysts' estimates typically exclude special items.
Quarterly sales rose to $1.30 billion from $1.10 billion last year, while analysts were looking for revenues of $1.28 billion for the quarter.
Looking ahead, for the fiscal 2014, the group said it now expects earnings per share from continuing operations in the range of $6.55 - $6.65, up from the previous guidance of $6.48 - $6.58. Sales are expected to grow in the range of 17 percent to 18 percent. Analysts expect earnings per share of $6.58 on revenues of $4.43 billion.
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