Harley profit drops
Harley-Davidson said a weak fourth quarter of 2015 was due in part to the strong U.S. dollar making it tough to compete against foreign motorcycle manufacturers.
Harley’s net income dropped 43% to $42.2 million compared to the same quarter in 2014.
Revenue also fell to $1.18 billion from $1.20 billion in fourth quarter 2014. The Milwaukee-based motorcycle manufacturer saw four back-to-back sales declines in 2015 and lost U.S. market share for the first time ever.
For all of 2015, Harley reported a net income of $752.2 million ($3.69/share), down from $844.6 million ($3.88/share) for all of 2014.