Harley-Davidson reports declines in first quarter

Freeman Staff

April 20, 2017

MILWAUKEE - Sharp declines in sales in the year's first quarter were the story for Harley-Davidson Inc., the company reported Tuesday.

The motorcycle manufacturer reported declines in revenue and profit in the first quarter. The $186.4 million it reported in net income is down over 25 percent from the same quarter in 2016 ($250.5 million).

Reported revenue in the first quarter was $1.5 billion, which was also down compared to the first quarter last year when it reported $1.75 billion in revenue.

Harley Chief Financial Officer John Olin said in a news release that the company has tried to manage demands and think toward the future, which includes offering its dealers incentives to sell its stock of leftover motorcycles while limiting its 2017 supply of new-model motorcycles.

"It shows our resolve to make sure that we are aggressively managing supply in line with demand," Olin said.