HARLEY-DAVIDSON Inc (NYSE: HDI) has announced record revenue and earnings for its fourth quarter and year ended December 31, 2003. Revenue for the quarter was $1.16 billion compared with $1.03 billion in the year-ago quarter, a 12.8% increase. Net income for the quarter was $182.4 million compared to $150.9 million, an increase of 20.9% over the year ago quarter.
Revenue for the full year was $4.62 billion, compared with $4.09 billion in 2002, a 13.0% increase. Net income for the year was $760.9 million, a 31.1% increase versus last year's $580.2 million.
"This is the 18th consecutive year that Harley-Davidson has achieved records for both revenue and net income," said Jeffrey Bleustein, chairman and chief executive officer of Harley-Davidson Inc. "We have a phenomenal year full of memorable once-in-a-lifetime experiences surrounding our 100th anniversary. Introducing the Harley-Davidson brand to hundreds of thousands of potential customers has undoubtedly sparked the dream of ownership and created new excitement for our products.
"As we begin our 101st year, we expect to grow the business further with our proven ability to deliver a continuous stream of exciting new motorcycles, related products and services. We have set a new goal for the company to be able to satisfy a yearly demand of 400,000 Harley-Davidson motorcycles in 2007," said Bleustein.
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