Polaris Q1 Loss Narrows, Sales Increase

(RTTNews) - Polaris Inc. (PII) on Tuesday reported a narrower first-quarter loss, primarily helped by growth in sales.

Loss before tax was $57.7 million for the first quarter, down from $71.1 million loss in the same quarter a year ago.

Excluding one-time items, the company posted adjusted profit before tax of $13.6 million, compared with $50.4 million loss last year.

Net loss narrowed to $47.4 million or $0.83 per share from $66.8 million or $1.17 per share loss a year earlier.

Polaris recorded adjusted net income of $7.5 million or $0.13 per share compared with net loss of $51.1 million or $0.90 per share last year.

Sales increased to $1.659 billion from $1.536 billion in the previous year.

For the full year, the company expects sales in the range of $7.15 billion - $7.30 billion and adjusted EPS of $1.60- $1.70.

Polaris shares were up more than 2% in pre-market trading after closing at $61.05 on Monday.