Polaris Industries Inc. (PII) reported first-quarter net income of $75.5 million, or $1.07 per share, compared to $60.1 million, or $0.85 per share, last year. Net sales increased to $745.9 million from $673.8 million, last year.
On average, 13 analysts polled by Thomson Reuters expected the company to report profit of $1.01 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $751.46 million for the quarter.
The company increased its full year 2013 sales and earnings guidance. The company now expects full year 2013 earnings to be in the range of $5.05 to $5.20 per share. Sales are now expected to grow in the range of 12 to 15 percent from 2012 levels. Analysts expect the company to report fiscal 2013 profit per share of $5.15 on revenue of $3.63 billion.
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