Harley-Davidson (HOG) Rocking On Q4 Earnings, Brighter Outlook

Harley-Davidson, Inc. (NYSE: HOG) shares are rocking today, following a solid fourth quarter earnings report and expectations of a 5% to 8% increase in shipments in FY11.

The stock is up 7.4% in midday trading, on elevated volume levels. At $39.40, the stock is trading at levels not seen since later in 2008.

HOG posted a Q410 operating loss per share of $0.18, compared to the consensus calling for a $0.30 per share loss. Revs of $917.08 million topped the $863.03 million consensus.

Earnings include a one-time $85.2 million charge from Harley's early repurchase of senior unsecured notes during the quarter.

Harley-Davidson Financial Services produced Q410 operating income of $43.5 million.

Consolidation still appears to be in the works at HOG. Q410 sales fell 1% globally, and FY10 sales were off 8.5% from FY09.

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