Consolidated Statements of Operations
in thousands, except per share data
|
POLARIS INDUSTRIES INC.
|
|
| For the Years Ended December 31,
|
|
|
1997
|
1996
|
1995
|
|
| Sales
|
$1,048,296
|
$1,191,901
|
$1,113,852
|
| Cost of Sales
|
785,758
|
928,085
|
865,859
|
| Gross profit
|
262,538
|
263,816
|
247,993
|
| Gross profit percent
|
25.0%
|
22.1%
|
22.3%
|
|
|
|
|
|
| Operating Expenses
|
169,436
|
166,399
|
146,335
|
|
| Operating income
|
93,102
|
97,417
|
101,658
|
| Nonoperating Expense (income)
|
|
|
|
| Interest expense
|
2,829
|
4,339
|
1,708
|
| Equity in (income) loss of affiliates
|
(6,718)
|
(3,107)
|
243
|
| Other expense (income), net
|
(5,171)
|
(1,148)
|
894
|
|
| Income before income taxes
|
102,162
|
97,333
|
98,813
|
| Provision for income taxes
|
36,779
|
35,040
|
38,037
|
|
| Net income
|
$ 65,383
|
$ 62,293
|
$ 60,776
|
|
| Basic and Diluted Net Income Per Share
|
$ 2.45
|
$ 2.24
|
$ 2.19
|
|
| *The accompanying notes are an integral part of these consolidated statements.
|