Polaris Industries Q4 beats Wall Street view

All-terrain vehicle maker Polaris Industries Inc posted fourth-quarter results that beat analysts' expectation, as it increased market share for its off-road vehicles.

Polaris, which also makes snowmobiles and motorcycles, expects 2012 earnings of $3.65-$3.80 a share, compared with analysts' expectation of $3.77 a share, according to Thomson Reuters I/B/E/S.

The company forecast sales growth of 5 to 8 per cent in 2012. Its off-road vehicles, which account for almost 60 per cent of total sales, are used in sports such as fishing and hunting as well as in farms, ranches and construction sites.

Oct-Dec net income rose to $63.9 million, or 90 cents a share, from $54.5 million, or 78 cents a share, a year ago. Sales rose 26 per cent to $782 million.

Analysts expected earnings of 88 cents a share, on revenue of $752.7 million.

Harley Davidson, with which Polaris competes in the motorcycle market, also posted strong quarterly results on Tuesday.

Shares of the company closed at $62.69 on Tuesday on the New York Stock Exchange.