Last10K.com

Polaris Industries Incmn (PII) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Polaris Industries Incmn

CIK: 931015 Ticker: PII

Exhibit 99.1

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

Polaris Reports 2016 Fourth Quarter and Full Year Results

Sales for the fourth quarter of 2016 increased 10% to $1,217.8 million including Transamerican Auto Parts (“TAP”) sales of $108.7 million

Fourth quarter 2016 reported net income was $0.97 per diluted share; adjusted net income for the same period was $1.18 per diluted share, in-line with expectations

ORV dealer inventory was down 11%, year-over-year; total dealer inventory was down 8%

Full year 2016 reported net income was $3.27 per diluted share; adjusted net income for the same period was $3.48 per diluted share, in-line with previously issued guidance. Sales for the full year of 2016 decreased 4% to $4,516.6 million

Polaris announced guidance for the full year 2017. Adjusted net income is expected to be in the range of $4.25 to $4.50 per diluted share with sales for the full year 2017 expected in the range of up 10% to 13%.

Note: the results and guidance in this release, including the highlights above, include references to non-GAAP operating measures, which are identified by the word “adjusted” preceding the measure. A reconciliation of GAAP to non-GAAP measures can be found at the end of this release.

MINNEAPOLIS--(BUSINESS WIRE)--January 24, 2017--Polaris Industries Inc. (NYSE: PII) today reported fourth quarter 2016 sales of $1,217.8 million up 10 percent from $1,105.6 million for the fourth quarter of 2015. Fourth quarter 2016 reported net income was $62.6 million, or $0.97 per diluted share, compared with $110.7 million, or $1.66 per diluted share, for the 2015 fourth quarter. Adjusted net income for the quarter ended December 31, 2016, excluding purchase accounting adjustments and certain costs related to the acquisition of TAP, was $76.1 million, or $1.18 per diluted share.

For the full year ended December 31, 2016 the Company reported sales of $4,516.6 million, a decrease of 4 percent versus $4,719.3 million in the prior year. Reported net income was $212.9 million, or $3.27 per diluted share, compared with $455.4 million, or $6.75 per diluted share, for the full year 2015. Adjusted net income, excluding purchase accounting adjustments and certain costs related to the acquisition of TAP was $226.5 million, or $3.48 per diluted share, for the year ended December 31, 2016.

On November 10, 2016, the Company completed the acquisition of TAP, a vertically integrated manufacturer, distributor, retailer and installer of off-road Jeep and truck accessories, for an aggregate consideration of $669 million.

“2016 was a difficult and challenging year for Polaris, but our culture is geared to deal head on with adversity and learn from it, and that’s what we did in 2016. In response to a series of recalls, we took the necessary steps to ensure that Polaris vehicles deliver the quality, safety and performance that our customers expect. We are relying on these enhanced improvements, consistent execution, and aggressive innovation to regain our footing as the ‘Best in Powersports’,” commented Scott Wine.


The following information was filed by Polaris Industries Incmn (PII) on Tuesday, January 24, 2017 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.

View differences made from one year to another to evaluate Polaris Industries Incmn's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Polaris Industries Incmn.

Continue

Assess how Polaris Industries Incmn's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Polaris Industries Incmn's Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

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)
- Components Of Other Intangible Assets (detail)
- Components Of Provision For Income Taxes (detail)
- Fair Value Measurements (detail)
- Financial Information For Polaris Acceptance Reflecting Effects Of Securitization Facility (detail)
- Major Components Of Inventories (detail)
- Net Deferred Income Taxes (detail)
- Polaris' Foreign Operations (detail)
- Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefits (detail)
- Reconciliation Of Federal Statutory Income Tax Rate To Effective Tax Rate (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)
Acquisitions
Acquisitions (tables)
Acquisitions - Additional Informaton (detail)
Acquisitions - Summary Of Assets Acquired And Liabilities Assumed (details)
Acquisitions - Unaudited Proforma Information (details)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Future Minimum Annual Lease Payments Under Capital And Operating Leases With Non-cancelable Terms In Excess Of One Year (detail)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (tables)
Derivative Instruments And Hedging Activities - Additional Information (detail)
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 (detail)
Employee Savings Plans
Employee Savings Plans - Additional Information (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)
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 - Goodwill And Other Intangible Assets (details)
Goodwill And Other Intangible Assets - Other Intangible Assets, Changes In Net Carrying Amount (detail)
Income Before Income Taxes (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Investment In Other Affiliates
Investment In Other Affiliates (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 Deferred Revenue Reserve (detail)
Organization And Significant Accounting Policies - Activity In Polaris Accrued Warranty Reserve (detail)
Organization And Significant Accounting Policies - Additional Information (detail)
Quarterly Financial Data
Quarterly Financial Data (detail)
Quarterly Financial Data (tables)
Segment Reporting
Segment Reporting (detail)
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)
Shareholders' Equity - Share Repurchases (details)
Subsequent Event
Subsequent Event (detail)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (detail)
Ticker: PII
CIK: 931015
Form Type: 10-K Annual Report
Accession Number: 0001628280-17-001442
Submitted to the SEC: Thu Feb 16 2017 4:30:07 PM EST
Accepted by the SEC: Thu Feb 16 2017
Period: Saturday, December 31, 2016
Industry: Miscellaneous Transportation Equipment

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/pii/0001628280-17-001442.htm