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Polaris Industries Incmn (PII) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Polaris Industries Incmn

CIK: 931015 Ticker: PII

Exhibit 99.1

CONTACT:
Polaris Industries Inc.
Richard Edwards, 763-542-0500

Polaris Reports Record 2013 Fourth Quarter and Full Year Results; Fourth Quarter EPS Increased 26% on Sales Growth of 20%

Fourth Quarter Highlights:

  • Net income increased 23% to $108.7 million, or $1.56 per diluted share, with sales increasing 20% to $1,083.7 million, both fourth quarter records.
  • Off-Road Vehicle sales increased 16%; Motorcycle sales increased 94%; PG&A sales increased 33%; and International sales increased 46% in the 2013 fourth quarter.
  • Gross profit margins expanded 110 basis points to 29.3% in the fourth quarter due to higher selling prices and lower product costs.

Full Year Highlights:

  • Full year 2013 net income from continuing operations increased 22% to a record $381.1 million, or $5.40 per diluted share, with record sales of $3,777.1 million, an increase of 18% from full year 2012.
  • Full year 2013 gross profit margins improved 90 basis points compared to full year 2012.
  • North American retail sales increased 10% for 2013.
  • All product lines increased sales for the full year 2013.

MINNEAPOLIS--(BUSINESS WIRE)--January 28, 2014--Polaris Industries Inc. (NYSE: PII) reported record fourth quarter net income of $1.56 per diluted share for the quarter ended December 31, 2013, an increase of 26 percent compared to the prior year’s fourth quarter net income of $1.24 per diluted share. Net income was $108.7 million for the fourth quarter of 2013, up 23 percent from the previous fourth quarter’s net income of $88.1 million. Sales for the fourth quarter of 2013 totaled a record $1,083.7 million, an increase of 20 percent over last year’s fourth quarter sales of $900.6 million.

For the full year ended December 31, 2013, Polaris reported record net income from continuing operations of $5.40 per diluted share, a 23 percent increase compared to $4.40 per diluted share for the year ended December 31, 2012. Net income from continuing operations was $381.1 million for the full year 2013, up 22 percent from the previous year’s net income from continuing operations of $312.3 million. Reported net income for the full year 2013, including both continuing and discontinued operations was $377.3 million, or $5.35 per diluted share. Sales for the full year 2013 totaled a record $3,777.1 million, an increase of 18 percent compared to sales of $3,209.8 million for the full year 2012.

“2013 marked Polaris’ fourth consecutive year of greater than 15 percent growth in both revenue and earnings. Sales and net income have more than doubled since 2009, testifying to the strength of our strategic plan that has served as a roadmap over the past five years as well as our relentless execution of its core principles. The plan keeps us focused on investing for organic growth in our principal Powersports businesses, expanding our global footprint, diversifying into market adjacencies and enhancing operational efficiencies,” commented Scott Wine, Polaris’ Chairman and Chief Executive Officer.


The following information was filed by Polaris Industries Incmn (PII) on Tuesday, January 28, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (parenthetical)
Consolidated Statements Of Income
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (parenthetical)
Assumptions Used To Estimate Weighted Average Fair Value Of Options (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Components Of Other Intangible Assets (detail)
Components Of Provision For Income Taxes (detail)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (tables)
Derivative Instruments And Hedging Activities Additional Information (details)
Derivative Instruments And Hedging Activities Carrying Values Of Derivative Instruments (detail)
Derivative Instruments And Hedging Activities Gains And Losses, Net Of Tax, Related To Derivative Instruments Designated As Cash Flow Hedges Included In Accumulated Other Comprehensive Income, Net (detail)
Derivative Instruments And Hedging Activities Open Foreign Currency Contracts (details)
Employee Savings Plans
Employee Savings Plans - Additional Information (detail)
Fair Value Measurements (details)
Financial Information For Polaris Acceptance Reflecting Effects Of Securitization Facility (detail)
Financial Services Arrangements
Financial Services Arrangements (tables)
Financial Services Arrangements Additional Information (detail)
Financing (tables)
Financing - Additional Information (detail)
Financing Agreement
Future Minimum Annual Lease Payments Under Capital And Operating Leases With Non-cancelable Terms In Excess Of One Year (detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets Additional Information (detail)
Goodwill And Other Intangible Assets Changes In Carrying Amount Of Goodwill (detail)
Goodwill And Other Intangible Assets Other Intangible Assets, Changes In Net Carrying Amount (detail)
Income Before Income Taxes (detail)
Income From Financial Services (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Investment In Other Affiliates
Investment In Other Affiliates (detail)
Investment In Other Affiliates (tables)
Major Components Of Inventories (details)
Net Deferred Income Taxes (detail)
Organization And Significant Accounting Policies
Organization And Significant Accounting Policies (policies)
Organization And Significant Accounting Policies (tables)
Organization And Significant Accounting Policies Activity In Polaris Accrued Warranty Reserve (detail)
Organization And Significant Accounting Policies Organization And Significant Accounting Policies - Additional Information (detail)
Polaris' Foreign Operations (detail)
Quarterly Financial Data
Quarterly Financial Data (detail)
Quarterly Financial Data (tables)
Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefits (detail)
Reconciliation Of Federal Statutory Income Tax Rate To Effective Tax Rate (detail)
Segment Reporting
Segment Reporting (tables)
Share-based Compensation
Share-based Compensation (tables)
Share-based Compensation - Additional Information (detail)
Share-based Compensation Expenses (detail)
Shareholders' Equity
Shareholders' Equity (tables)
Shareholders' Equity Additional Information (detail)
Shareholders' Equity Cash Dividends Declared Per Common Share (details)
Shareholders' Equity Changes In Accumulated Other Comprehensive Income (loss) Balances (detail)
Shareholders' Equity Gains And Losses, Net Of Tax Reclassified From Accumulated Other Comprehensive Income (details)
Shareholders' Equity Reconciliation Of Weighted Average Number Of Shares (detail)
Stock Option Activity And Weighted Average Exercise Price (detail)
Summary Of Activity Under Credit Arrangements, Excluding Acquired Borrowings (detail)
Summary Of Restricted Stock Activity (detail)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (detail)
Ticker: PII
CIK: 931015
Form Type: 10-K Annual Report
Accession Number: 0001445305-14-000518
Submitted to the SEC: Fri Feb 21 2014 12:51:37 PM EST
Accepted by the SEC: Fri Feb 21 2014
Period: Tuesday, December 31, 2013
Industry: Miscellaneous Transportation Equipment

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