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Polaris Industries Inc. is headquartered in Minneapolis, Minnesota, and designs, manufactures and markets innovative, high-quality, high-performance motorized products for recreation and utility use. • Our product lines consist of all-terrain vehicles (ATVs), snowmobiles, personal watercraft (PWC) and motorcycles. • Polaris engineering, manufacturing and distribution facilities are located in Roseau, Minnesota; Osceola, Wisconsin; Spirit Lake, Iowa; Vermillion, South Dakota; Winnipeg, Manitoba (wholly owned subsidiary); and Hudson, Wisconsin (joint venture with Fuji Heavy Industries Ltd.). • Our finance company, Polaris Acceptance, is a 50/50 joint venture with a wholly owned subsidiary of Transamerica Distribution Finance. • Polaris products are sold through a network of over 2,000 dealers in North America and 44 distributors in 116 countries. • Polaris common stock trades on the New York Stock Exchange and Pacific Stock Exchange under the symbol PII, and the company is included in the S&P SmallCap 600 stock price index.
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1998
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1997
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% Change
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Financial Highlights
(dollars in thousands, except per share data) |
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OPERATING DATA |
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Sales |
$
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1,175,520
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$
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1,048,296
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12% |
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Operating Income |
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100,106
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93,102
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8% |
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Adjusted net income (1) |
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70,624
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65,383
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8% |
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Adjusted net income per diluted share (1) |
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2.72 |
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2.45
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11% |
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OPERATING DATA |
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Current Assets |
$
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183,840
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217,458 |
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Property and equipment |
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124,254 |
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98,020 |
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Total assets |
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378,697 |
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384,746 |
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Long-term debt |
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20,500 |
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24,400 |
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Shareholders' equity |
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153,233 |
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169,235 |
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Sales
(dollars in millions) |
Operating Income(2)
(dollars in millions)
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Net Income(1)(2)
(dollars in millions) |
Net Income Per Share(1)(2)
(dollars) |
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Cash Flow Provided(1)(2)
(dollars in millions, before changes in current operating items and deferred taxes) |
Debt to Total Capital Ratio |
Return on Average Shareholder Equity(1)(2)
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Total Yield to Investors |
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(1) In 1998, Polaris entered into a settlement agreement related to a trade secret infringement claim brought by Injection Research Specialists, Inc. The one-time provision for litigation loss of 61.4 million, or $1.53 per diluted share, has been excluded from the 1998 financial data presented.
(2) In 1994, Polaris converted from a publicly traded limited partnership to a publicly traded corporation. Pro forma data is presented for periods prior to 1995 to assist in comparing the continuing results of operations of the Company exclusive of the conversion costs and as if the Company were a taxable corporation for each period presented. |
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© 1999 Polaris Industries Inc. |
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