Global economic headwinds aren’t slowing Harley-Davidson. The iconic motorcycle maker bolstered its profits as it increased sales and shipments in 2011.
Full-year profits from continuing operations roared from $259.7 million in 2010 to $548.1 million last year. Total revenue climbed 11.6 percent to $4.7 billion.
Net profit for 2011 soared 309 percent, rising to $599 million. In the fourth quarter, the company had a $105.7 million net profit, compared with a loss a year ago.
The profits were delivered by strong sales and shipment volume in the U.S. and worldwide, indicating that some consumers, at least, remain confident.
Harley-Davidson shipped 233,117 motorcycles last year, a 10.7 percent increase from 2010. The company expects to ship 240,000 to 245,000 motorcycles in 2012.
In the fourth quarter, the company’s global shipments increased 10.9 percent to 40,359 motorcycles. U.S. shipments rose 11.8 percent to 23,753 motorcycles. In the first quarter, Harley Davidson hopes to ship up to 63,000 motorcycles.