RURAL REFLECTIONS Pembina Trail Ride
A great dusty cloud of man and machine arrived one day. These were
untamed, gray men unhindered by the conventions of the rules of the
road or of soap and washcloth. These were the riders of t... Posted on 8/4/12 at 5:23 AM
Snowmobile and ATV maker Polaris Industries Inc. on Tuesday said that its fourth-quarter profit climbed 38 percent, as increased sales of its off-road vehicles, motorcycles and gear and accessories more than offset a decline in snowmobile sales.
GEM builds electric-powered vehicles. The business started in 1997 and was sold to Chrysler in 2000. Polaris bought GEM from Chrysler in April. Polaris plans to move the GEM manufacturing operation to its plant in Spirit Lake, Iowa.
Off-road and leisure vehicle maker Polaris Industries Inc. said Wednesday its earnings more than doubled in the first quarter and raised its guidance for the year, sending its shares up more than 16 percent in morning trading.
More than $13.6 million will be shared among about 2,250 hourly and nonsalaried Polaris employees in a cash payment. On average, each of these employees will receive nearly 19 percent of their annual base pay, the company said.
Edgar Hetteen, the Roseau, Minn., native known as the grandfather of the snowmobile industry for co-founding the two main manufacturers still making them in northwest Minnesota, died Saturday in a Grand Rapids, Minn., nursing home. He was 90.
Arctic Cat and Polaris Thursday both credited new products, growth in international markets and, in Arctic's case, improvement in that non-recreational side of the business, with significant increases in sales and earnings. They also said a greater willingness to spend by U.S. consumers -- some spurred by this winter's heavy snows -- contributed to the robust results.
Polaris, which has one of its manufacturing plants in its former corporate hometown of Roseau, Minn., isn't the only recreational vehicle company that manufactures outside the United States. But it's a choice that comes with some risks, beyond just potential consumer backlash for exporting jobs when nearly one in 10 Americans are unemployed.
Strong sales of off-road vehicles and Victory motorcycles continue to help Polaris Industries Inc. buck weak industrywide demand for recreational vehicles, boosting the Medina-based company's third-quarter earnings 51 percent and sales 33 percent. The company has a manufacturing plant in Roseau, Minn.
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