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Polaris Industries Incmn (PII) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Polaris Industries Incmn

CIK: 931015 Ticker: PII

Exhibit 99.1

 

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

Polaris Reports 2015 Fourth Quarter and Full Year Results

Full year 2015 net income was $455.4 million, or $6.75 per diluted share, in-line with Company revised expectations

Sales for full year 2015 increased 5% year-over-year to $4,719.3 million. Excluding currency impacts, sales increased 9%

Fourth quarter 2015 net income was $110.7 million, down 18% on 13% lower sales primarily due to weak retail sales in the North American oil and gas regions

All businesses increased market share in North America for 2015 despite a weak powersports industry

North American dealer inventory finished 2015 up 5%, in-line with Company guidance; ORV dealer inventory was down 4% year over year, lower than implied guidance

Polaris announced 2016 guidance reflecting continued currency market volatility and ongoing weak industry demand; expects full year 2016 net income to be in the range of $6.20 to $6.80 per diluted share, with sales in the range of down 2% to up 3% compared to 2015.

MINNEAPOLIS--(BUSINESS WIRE)--January 26, 2016--Polaris Industries Inc. (NYSE:PII) reported net income of $6.75 per diluted share for the year ended December 31, 2015, a two percent increase compared to $6.65 per diluted share for the year ended December 31, 2014. Net income was $455.4 million for the full year 2015, approximately flat to previous year’s net income of $454.0 million. Sales for the full year 2015 totaled a record $4,719.3 million, an increase of five percent compared to sales of $4,479.6 million for the full year 2014.

For the fourth quarter ended December 31, 2015, Polaris reported net income of $1.66 per diluted share, a decrease of 16 percent compared to the prior year’s fourth quarter net income of $1.98 per diluted share. Net income was $110.7 million for the fourth quarter of 2015, down 18 percent from the previous fourth quarter’s net income of $135.4 million. Sales for the fourth quarter of 2015 totaled $1,105.6 million, a decrease of 13 percent over last year’s fourth quarter sales of $1,275.0 million.

“While 2015 was a difficult year, we did manage to grow market share in each of our businesses and increased sales and earnings per share for the sixth consecutive year. That said, our performance failed to meet our earlier projections, as both external and internal challenges restrained growth and profitability. The strengthening dollar and weakening oil markets combined with an unseasonably warm winter constrained demand for off-road vehicles and snowmobiles, placing pressure on dealer inventory and forcing us to curtail shipments in the fourth quarter. While our execution to plan did not meet our historically high standards, we have taken numerous actions to position Polaris for better performance in 2016,” commented Scott Wine, Polaris’ Chairman and Chief Executive Officer.


The following information was filed by Polaris Industries Incmn (PII) on Tuesday, January 26, 2016 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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Financial Statements, Disclosures and Schedules

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
Financing Agreement Debt Instruments (details)
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)
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 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 (details)
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)
Subsequent Events (details)
Subsequent Events (notes)
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: 0001628280-16-011420
Submitted to the SEC: Fri Feb 19 2016 2:02:15 PM EST
Accepted by the SEC: Fri Feb 19 2016
Period: Thursday, December 31, 2015
Industry: Miscellaneous Transportation Equipment

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