published Thursday, July 16th, 2009

Harley-Davidson deepens cuts as 2Q profit tumbles

MILWAUKEE — Harley-Davidson Inc. says it is cutting 1,000 more employees as its second-quarter profit tumbled 91 percent on falling motorcycle shipments.

The company also says it is cutting its forecast for motorcycle shipments for the year.

Harley says its earnings for the quarter ended June 28 fell to $19.8 million, or 8 cents per share, from $222.8 million, or 95 cents per share, in the same quarter last year.

Revenue declined 27 percent to $1.15 billion.

Analysts surveyed by Thomson Reuters forecast 24 cents per share on revenue of $1.15 billion.

Harley says it plans to cut another 700 hourly and 300 salaried employees.

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LarryPage said...

This will be very hard for the Harley Davidson owners out there because with this news many parts will be affected like the Harley Davidson Taillights as they will increase in price.

December 15, 2011 at 2:22 a.m.
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