Harley-Davidson Inc. said Thursday it had net income of $42.2 million, or 22 cents a share, in the fourth quarter, down from $74.5 million, or 35 cents a share, in the year-earlier period. Revenue edged down to $1.18 billion from $1.20 billion a year ago. The FactSet consensus was for EPS of 20 cents and revenue $1.03 billion. "Our U.S. market share stabilized as we began to ramp up marketing investment, and as we lapped the initial impact of heightened competitiveness and price discounting that began late in the fourth quarter of 2014," Chief Executive Matt Levatich said in a statement. The company said it now expects to deliver 26,00 t0 274,000 motorbikes in 2016 and to deliver 78,000 to 83,000 in the first quarter. Shares were not yet active in premarket trade, but are down 40% in the last 12 months, while the S7P 500 has lost 6%.
Copyright © 2016 MarketWatch, Inc.