Expertise from Switzerland-based Company will enhance Polaris’ engineering capabilities and broaden geographic reach

Fourth Quarter Net Income increased 21% Year-over-year from Margin Expansion

Razor Sharp Performance for 4

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Analysts at Craig-Hallum Capital Group LLC have raised the price target for Polaris Industries Inc. (NYSE: PII) from $44 to $51.

Polaris reported EPS of $1.31 for the fourth quarter ahead of analysts’ estimate of $1.21. The earnings upside was mainly driven by better than expected revenue and improved gross margins. The company reported revenue of $471.8 million as against analysts’ estimate of $449.5 million. Gross margins improved by 450 basis points in the quarter. The company also showed signs of recovery in retail sales.

Polaris also initiated guidance for 2010. The company expects 2010 EPS to be in the range of $3.15-$3.30. Analysts at Craig-Hallum have raised EPS estimate for 2010 to $3.23 given the strong results for the fourth quarter and company guidance for 2010.

The management at Polaris has also indicated that it plans to put its share buyback program on hold in order to strengthen its balance sheet. The company is authorized to buyback an additional 3.8 million shares. Analysts at Craig-Hallum have an Accumulate rating for Polaris Industries Inc.

Polaris Industries Inc. (PII)

Q4 2009 Earnings Call

January 28, 2010 10:00 p.m. ET

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Question-and-Answer SessionOperator Operator Instructions. Okay. Your first question comes from the line of James Hardiman with FTN Equity Capital. James Hardiman - FTN Equity Capital Congrats on a great quarter, a great year, and we certainly appreciate all the disclosure. A couple of questions for you, on...

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