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Significant Jump in Harley-Davidson Profit
Thursday, April 26th, 2012 -- 9:30 am
Posted by Riley Hebert-News Director
-Harley-Davidson's first-quarter profit jumped 44 percent, as improving economic conditions and early spring weather boosted U.S. sales of its famous motorcycles.
According to the Marshfield New Herald, the results beat Wall Street expectations and the company on Wednesday boosted its shipments forecast for the year.
Shares jumped more than 7 percent in afternoon trading, reaching levels that have not been seen since August 2007, just before the global economic crisis ravaged Harley's business.
President and CEO Keith Wandell cited improving U.S. economic environment, as well as a drastic restructuring that froze pay, cut hundreds of jobs and brought in part-time workers.
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