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Polaris Industries Incmn (PII) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Polaris Industries Incmn

CIK: 931015 Ticker: PII
Exhibit 99.1

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

Polaris Reports 2017 Fourth Quarter and Full Year Results

  • Reported sales for the fourth quarter of 2017 increased 18% to a record $1,431 million; adjusted sales were $1,430 million, up 17%, a majority from organic growth
  • Fourth quarter 2017 reported net income was $0.49 per diluted share; adjusted net income for the same period was $1.47 per diluted share, in-line with expectations and up 25% over the prior year
  • Full year 2017 reported net income was $2.69 per diluted share; adjusted net income for the same period was $4.85 per diluted share, in-line with previously issued guidance. Reported and adjusted sales for the full year of 2017 increased 20% to $5,428 million
  • Total 2017 dealer inventory was up 1% year-over-year; ORV dealer inventory was down 6%
  • Polaris announced guidance for the full year 2018. Adjusted net income is expected to be in the range of $6.00 to $6.20 per diluted share with adjusted sales for the full year 2018 expected in the range of up 3% to 5%
  • Polaris updated its long-term strategic goals and objectives emphasizing top-line growth and margin expansion. Sales are anticipated to grow at greater than 5% compounded annually and net income is expected to increase at a greater than 15% compounded annual growth rate through 2022 on an adjusted basis

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 30, 2018--Polaris Industries Inc. (NYSE: PII) today reported record fourth quarter 2017 sales of $1,431 million, up 18 percent from $1,218 million for the fourth quarter of 2016. Adjusted sales for the fourth quarter of 2017 were $1,430 million, up 17 percent from the prior year period. The Company reported fourth quarter 2017 net income of $31 million, or $0.49 per diluted share, compared with net income of $63 million, or $0.97 per diluted share, for the 2016 fourth quarter. The reported net income includes costs related to the wind down of Victory

® Motorcycles, Transamerican Auto Parts ("TAP") integration costs, restructuring and realignment costs and impacts from U.S. tax reform. Adjusted net income for the quarter ended December 31, 2017, excluding these costs, was $95 million, or $1.47 per diluted share.

“I am proud of the Polaris team and excited to see their dedication and hard work pay off as we returned the company to sustainable profitable growth in 2017. Indian Motorcycles® massively outperformed the Motorcycle industry, building on its existing momentum with a flood of product news and a very successful year on the race track. We accelerated North American demand for side-by-sides throughout the year led by strong retail sales of RANGER® and Polaris GENERAL™ along with increased international sales growth in all regions outside North America. Additionally, we made significant investments and improvements in our people, processes, product innovation and quality, which led to notable execution improvements in our Off-Road Vehicle business, marked progress on the TAP integration, and a substantial upgrade of our quality control systems and infrastructure,” commented Scott Wine, Chairman and Chief Executive Officer of Polaris Industries.


The following information was filed by Polaris Industries Incmn (PII) on Tuesday, January 30, 2018 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 Polaris Industries Incmn's 10-K Annual Report:

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 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 - 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 Agreement
Financing Agreement (tables)
Financing Agreement - Additional Information (details)
Financing Agreement - Debt Instruments (details)
Financing Agreement - Summary Of Activity Under Credit Arrangements, Excluding Acquired Borrowings (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 Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Income From Continuing Operations, Before Income Taxes (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 - Assumptions Used To Estimate Fair Value Of Tsr Grants (details)
Share-based Compensation - Summary Of Share-based Compensation Expense (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)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (detail)
Victory Motorcycles Wind Down
Victory Motorcycles Wind Down (tables)
Victory Motorcycles Wind Down - Liability Balance (details)
Victory Motorcycles Wind Down - Narrative (detail)
Victory Motorcycles Wind Down - Wind Down Charges (details)
Ticker: PII
CIK: 931015
Form Type: 10-K Annual Report
Accession Number: 0001628280-18-001709
Submitted to the SEC: Wed Feb 14 2018 6:21:30 PM EST
Accepted by the SEC: Thu Feb 15 2018
Period: Sunday, December 31, 2017
Industry: Miscellaneous Transportation Equipment

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