Polaris Industries Inc. (PII) reported first quarter net income of $0.85 per share Wednesday morning, up from $0.67 in the previous year. The consensus estimate was for EPS of $0.76. The company also increased its full year 2012 EPS forecast to between $3.85 and $4.00, from prior expectations of $3.65 to $3.80. The consensus estimate is for EPS of $3.85.
Polaris Industries gapped open higher Wednesday and rose throughout the first hour of trade. Shares advanced further in the early afternoon and closed up by 7.37 at $80.50, with volume at a 6-month high. The stock broke out of a 3-week range and set a new high for the year.
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