Harley-Davidson profit accelerates

Motorcycle maker Harley-Davidson Inc. on Wednesday said its profit rose 3 percent in the first quarter, in line with Wall Street expectations and helped by motorcycle sales growth in the United States and abroad.

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For the quarter ended March 26, income increased to $234.6 million, or 86 cents per share, compared with $227.2 million, or 77 cents per share, during the same period a year ago. Revenue rose 4 percent to $1.29 billion from $1.24 billion in the prior year.

Results fell in line with analyst expectations, who, on average, were expecting earnings of 86 cents per share on sales of $1.29 billion, according to a poll conducted by Thomson Financial.

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Motorcycle sales increased by about 6 percent in the U.S. and almost 12 percent in international markets during the quarter, Milwaukee-based Harley-Davidson said.

“With the increased seasonality in our business, we are pleased with this retail sales performance,” said Jim Ziemer, the company’s president and chief executive officer.