Polaris Donating 10 Off-Road Vehicles to The Salvation Army for Oklahoma Disaster Relief

Military units to feature Run-Flat and Non-Pneumatic Tires due to harsh conditions

MINNEAPOLIS, MN – May 28, 2013 – (Motor Sports Newswire) – Polaris Industries Inc. (NYSE: PII) today announced the company is donating 10 military, off-road vehicles with a combination of Run-Flat and Non-Pneumatic Tires (NPT), to enhance The Salvation Army’s ability to transport food, water and other critical supplies to survivors, in Moore, Okla. The units will be delivered from Polaris’ Osceola, Wis. plant, free of charge, thanks to a generous donation from Bay and Bay Transport and Overbye Trucking.

“With debris on the ground from thousands of destroyed homes, these vehicles will allow us to serve in places our mobile kitchens cannot,” said Lt. Col. Robert Thomson, Salvation Army Northern Division Commander. “We thank Polaris for this incredible gift. These vehicles will allow us to serve more people in crisis.”

The donated units, a combination of military ATV, RANGER and RZR vehicles, are outfitted with either Run Flat tires or NPTs to prevent down time. Run-Flat tires resist the effects of deflation when punctured giving the operator the ability to continue to use the vehicle; and NPTs are built to never go flat and are virtually indestructible.

“Oklahoma will rebound from this terrible tragedy, through the resiliency of its people and the assistance of organizations like The Salvation Army,” said Scott Wine, Polaris’ Chief Executive Officer.  “Polaris has long supported their charitable efforts, and we hope the donation of these vehicles will assist them as they provide the affected communities with the relief they desperately need.”

To date, The Salvation Army has served more than 17,000 meals and snacks to tornado survivors and relief workers across Oklahoma, with pastoral care provided to about 800 people. The Salvation Army is now preparing to offer long-term case management, which can include financial assistance, stress management classes, replacement furniture and much more.

To donate to The Salvation Army’s Oklahoma tornado relief efforts:

• Give online at SalvationArmyNorth.org or call 800-SAL-ARMY (725-2769)
• Text “STORM” to 80888 to make a $10 donation via your mobile phone. To confirm your gift, respond “Yes.”
• Mail a check to The Salvation Army, 2445 Prior Ave. N., Roseville, MN 55113. Designate your gift “Oklahoma Tornado.”

About Polaris

Polaris is a recognized leader in the powersports industry with annual 2012 sales of $3.2 billion. Polaris designs, engineers, manufactures and markets innovative, high quality off-road vehicles, including all-terrain vehicles (ATVs) and the Polaris RANGER® and RZR® side-by-side vehicles, snowmobiles, motorcycles and on-road electric/hybrid powered vehicles.

Polaris is among the global sales leaders for both snowmobiles and off-road vehicles and has established a presence in the heavyweight cruiser and touring motorcycle market with the Victory and Indian motorcycle brands. Additionally, Polaris continues to invest in the global on-road small vehicle industry with Global Electric Motorcars (GEM), Goupil Industrie SA, Aixam Mega S.A.S., and internally developed vehicles. Polaris enhances the riding experience with a complete line of Polaris and KLIM branded apparel and Polaris accessories and parts.

Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock price index.

Information about the complete line of Polaris products, apparel and vehicle accessories are available from authorized Polaris dealers or anytime at www.polaris.com.

####

Polaris Reports Record First Quarter 2013 Results; EPS Increased 26% to $1.07 on 11% Sales Growth

First Quarter Highlights:

• Net income increased 26% to $75.5 million, or $1.07 per diluted share, with sales increasing 11% to $745.9 million, setting new records for first quarter sales and earnings.
• Off-Road Vehicle sales increased 7% in the first quarter 2013 despite difficult first quarter 2012 comparisons, and PG&A sales increased 27% during the 2013 first quarter.
• Raising guidance for full year 2013 earnings to a range of $5.05 to $5.20 per diluted share, an increase of 15% to 18% over 2012 based on projected full year 2013 sales growth of 12% to 15%.

MINNEAPOLIS, MN – April 23, 2013 – (Motor Sports Newswire) - Polaris Industries Inc. (NYSE: PII) today reported record first quarter net income of $75.5 million, or $1.07 per diluted share, for the quarter ended March 31, 2013. By comparison, 2012 first quarter net income was $60.1 million, or $0.85 per diluted share. Net sales for the first quarter 2013 totaled $745.9 million, which represents an increase of eleven percent from last year’s first quarter sales of $673.8 million.

“We are pleased that consumers and enthusiasts around the world continued to make Polaris their brand and product of choice during the first quarter of 2013. While Off-Road Vehicles (“ORVs”) and motorcycles faced challenging 2012 comparisons, we were again able to outpace the industry and increase market share in both product lines. Our snowmobile business also generated strong retail sales and market share growth during the first quarter,” commented Scott Wine, Polaris’ Chairman and CEO.

“Two key tenets of Polaris’ long-term strategy are growing globally and growing through adjacencies. Our acquisition earlier this month of Aixam Mega S.A.S., a profitable European on-road quadricycle business, aligns perfectly with those two objectives and furthers our penetration into the $4+ billion global small vehicles market. Aixam Mega broadens our product line portfolio, complements our GEM and Goupil businesses, boosts our European distribution network, and enhances our competitive advantage in small vehicles. Additionally, we finalized the location of our new European manufacturing facility, which will be located in Opole, Poland. This facility will add much needed ORV capacity and serve our European markets with locally designed and manufactured products. We expect to break ground during this years’ second quarter and the facility should be operational by the fall of 2014.”

“During the quarter, we also launched the highly anticipated Polaris Brutus and Bobcat utility vehicles, co-developed with Bobcat. We are pleased with the vehicles’ performance and the initial market reaction from dealers and customers has been positive. Shipments to both the Bobcat and Polaris’ new commercial channels will begin in April.”

Wine concluded, “Not unexpectedly, we saw a degree of timidity in some customer segments that corresponded with the payroll tax increases that took effect at the start of the year. We remain cautious of the economic risks in both North America and Europe, but believe our strong team and commercial plans, along with our near term product pipeline, headed by the new Indian motorcycle, will enhance growth in the second half of 2013. With our solid start to the year, we feel confident in raising our 2013 full year sales and earnings guidance.”

2013 Business Outlook

Based on Polaris’ performance during the 2013 first quarter, projections for the remainder of the calendar year and reflecting the acquisition of Aixam Mega completed in April 2013, the Company is increasing its 2013 full year sales and earnings guidance. The Company now expects full year 2013 earnings to be in the range of $5.05 to $5.20 per diluted share, an increase of 15 to 18 percent over earnings of $4.40 per diluted share for the full year 2012. Sales for the full year 2013 are now expected to grow in the range of 12 to 15 percent.

First Quarter Performance Summary (in thousands except per share data)
		Three Months ended March 31,
Product Line Sales		2013		2012		Change
Off-Road Vehicles		$ 541,272		$ 504,567		7%
Snowmobiles		14,714		4,647		217%
On-Road Vehicles		62,856		64,656		-3%
Parts, Garments & Accessories		127,067		99,880		27%
Total Sales		$ 745,909		$ 673,750		11%
Gross Profit		$ 216,648		$ 194,963		11%
Gross profit as a % of sales		29.0%		28.9%		+10 bps
Operating Expenses		$ 124,753		$ 110,599		13%
Operating expenses as a % of sales		16.7%		16.4%		+30 bps
Operating Income		$ 101,969		$ 91,547		11%
Operating Income as a % of sales		13.7%		13.6%		+10 bps
Net Income		$ 75,464		$ 60,078		26%
Net income as a % of sales		10.1%		8.9%		+120 bps
Diluted Net Income per share		$ 1.07		$ 0.85		26%

Off-Road Vehicle (“ORV”) sales increased seven percent from the first quarter 2012 to $541.3 million. This increase reflects continued market share gains driven by new product offerings, including the highly successful RANGER XP^® 900and RANGER^® 800 mid-size utility vehicles. Polaris’ North American ORV unit retail sales were up single digits percent from the very strong mid-twenties percent increase in the first quarter last year. Retail sales for side-by-sides continued to grow during the quarter, but ATVs experienced a slight decline in retail sales in the 2013 first quarter compared to a strong double digits percent increase in the 2012 first quarter. Both ATVs and side-by-side vehicles continued to gain market share again in North America during the first quarter 2013. Polaris ORV dealer inventory was up 26 percent in the 2013 first quarter compared to a year ago reflecting the continued focus on increasing availability in both established and new market segments in addition to preparing for the spring selling season. The Company estimates North American industry ORV retail sales in the first quarter 2013 declined single digits percent with core ATV industry retail sales down double digits percent during the quarter primarily attributable to unseasonably warm weather in 2012 and a late start to the spring in 2013. Sales of ORVs outside of North America decreased two percent in the first quarter 2013 when compared to the first quarter 2012, primarily due to weaker industry conditions in Australia and Europe.

Snowmobile sales totaled $14.7 million for the 2013 first quarter compared to $4.6 million for the first quarter of 2012. The North American snowmobile industry finished the season strong with industry retail sales up over 20 percent in the 2013 first quarter and up mid-single digits percent for the entire season ending March 31, 2013 due to more normal snowfall levels and later snow cover this snowmobile riding season. Polaris’ North American retail snowmobile sales once again outpaced the industry, resulting in increased market share for the season ending March 31, 2013 and four percent lower season-end North American dealer inventories for Polaris snowmobiles. During the quarter, the Company introduced eight new model year 2014 snowmobiles, including seven all-new models under the legendary INDY^® name. Sales to customers outside North America increased over 100 percent in the first quarter 2013 as the Company moved additional product into the Scandinavian and Russian markets where snowfall levels drove healthy snowmobile retail sales increases.

On-Road Vehicle sales, comprised primarily of Victory motorcycles, but also including Indian motorcycles and our GEM and Goupil electric vehicles, decreased three percent from the first quarter 2012 to $62.9 million. North American industry heavyweight cruiser and touring motorcycle retail sales decreased about ten percent during the first quarter 2013 when compared to a strong mid-teens percent increase in the 2012 first quarter, which was primarily driven by the unseasonably warm weather in 2012 and a late start to spring in 2013. Over the same period, Victory North American unit retail sales decreased as well, albeit less than the overall industry, resulting in continued market share gains. This year marks the 15^th anniversary of Victory motorcycles and to commemorate the occasion, Victory introduced a limited edition 15^th anniversary Cross Country Tour, inspired by the first Victory motorcycle ever built. Additionally, as Polaris marches toward the full re-launch of Indian motorcycles later this year, the Company unveiled the all new Thunder Stroke 111™ engine that will power the new model year 2014 Indian motorcycles. The engine features 111 cubic inch displacement and delivers the raw power and iconic styling that have long been hallmarks of the legendary Indian Motorcycle brand. The Company’s small vehicle business grew sales double digits percent during the 2013 first quarter through added distribution and improved sales efforts for GEM and Goupil electric vehicles.

Parts, Garments and Accessories (“PG&A”) sales increased 27 percent during the first quarter 2013 compared to the same period last year. The growth was driven by double digit sales increases in all segments and product lines, with snowmobile related PG&A performing exceptionally well due to more normal snowfall and later snow cover this past riding season, which ended March 2013. Additionally, sales from the recently acquired Klim business contributed to the increase in PG&A sales in the 2013 first quarter.

Gross profit was 29.0 percent of sales for the first quarter of 2013, an increase of 10 basis points from the first quarter of 2012; while over the same period, gross profit dollars increased eleven percent to $216.6 million. The first quarter 2013 increase in gross profit dollars and margin percentage was driven by lower commodity costs, higher selling prices and production efficiencies, largely offset by unfavorable currency movements and higher promotional activities.

Operating expenses for first quarter 2013 grew 13 percent to $124.8 million or 16.7 percent of sales, compared to $110.6 million or 16.4 percent of sales for the first quarter of 2012. Operating expenses in absolute dollars and as a percent of sales for the first quarter of 2013 rose primarily due to planned strategic investments, higher sales, marketing and advertising expenses primarily related to Indian motorcycles, and increased research and development activities related to new products under development.

Income from financial services was $10.1 million during first quarter 2013, an increase of 40 percent compared to $7.2 million in the first quarter of 2012, largely due to higher income from Polaris Acceptance’s dealer inventory financing and increased volume and corresponding profitability generated from the retail credit portfolios with Sheffield, GE and Capital One.

Equity in income (loss) of affiliates was $0.4 million of expense for the first quarter 2013, which represents the Company’s portion of the start-up costs related to the Polaris/Eicher joint venture in India established in 2012.

Non-operating other income which primarily relates to foreign currency exchange rate movements and the corresponding effects on foreign currency transactions related to the Company’s foreign subsidiaries was $2.5 million in the first quarter of 2013 compared to $2.6 million in the first quarter of 2012.

The provision for income taxes for the first quarter 2013 was recorded at a rate of 26.4 percent of pretax income compared to 35.1 percent of pretax income for the first quarter 2012. The significantly lower income tax rate for the first quarter 2013 reflects a non-recurring $8.2 million benefit resulting from a combination of a) the United States Congress reinstating the research and development income tax credit retroactively for calendar year 2012 during the first quarter of 2013, and b) favorable conclusions of federal tax audits during the 2013 first quarter which allowed the release of certain income tax reserves.

Financial Position and Cash Flow

Net cash provided by operating activities was $47.8 million for the first quarter ended March 31, 2013 compared to net cash used for operating activities of $0.7 million for the first quarter of 2012. The quarter over quarter change in net cash from operating activities is the result of higher net income for the quarter and decreased working capital requirements during the 2013 first quarter period primarily due to increased accounts payable. Total debt at the end of the first quarter 2013 was $106.4 million. During the 2013 first quarter, the Company increased its quarterly dividend payment for the 18^th consecutive year by 14 percent to $0.42 per share and paid a total of $28.7 million in dividends to shareholders. The Company’s debt-to-total capital ratio was 13 percent at March 31, 2013, compared to 16 percent a year ago. Cash and cash equivalents were $380.8 million at March 31, 2013, an increase of 33 percent compared to $285.9 million for the same period in 2012.

Conference Call and Webcast Presentation

Today at 9:00 AM (CDT) Polaris Industries Inc. will host a conference call and webcast to discuss Polaris’ 2013 first quarter earnings results released this morning. The call will be hosted by Scott Wine, Chairman and CEO, Bennett Morgan, President and COO, and Mike Malone, Vice President – Finance and CFO. A slide presentation and link to the audio webcast will be posted on the Investor Relations page of the Polaris web site at www.polarisindustries.com/irhome.

To listen to the conference call by phone, dial 877-706-7543 in the U.S. and Canada, or 973-200-3967 internationally. The Conference ID is # 48224205.

A replay of the conference call will be available approximately two hours after the call for a one-week period by accessing the same link on our website, or by dialing 855-859-2056 in the U.S. and Canada, or 404-537-3406 internationally.

About Polaris

Polaris is a recognized leader in the powersports industry with annual 2012 sales of $3.2 billion. Polaris designs, engineers, manufactures and markets innovative, high quality off-road vehicles, including all-terrain vehicles (ATVs) and the Polaris RANGER^® and RZR^® side-by-side vehicles, snowmobiles, motorcycles and on-road electric/hybrid powered vehicles.

Polaris is among the global sales leaders for both snowmobiles and off-road vehicles and has established a presence in the heavyweight cruiser and touring motorcycle market with the Victory and Indian motorcycle brands. Additionally, Polaris continues to invest in the global on-road small vehicle industry with Global Electric Motorcars (GEM), Goupil Industrie SA, Aixam Mega S.A.S., and internally developed vehicles. Polaris enhances the riding experience with a complete line of Polaris and KLIM branded apparel and Polaris accessories and parts.

Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock price index.

Information about the complete line of Polaris products, apparel and vehicle accessories are available from authorized Polaris dealers or anytime at www.polaris.com.

Except for historical information contained herein, the matters set forth in this news release, including management’s expectations regarding 2013 sales, shipments, net income, net income per share, new manufacturing operations initiatives, joint venture projects and savings in logistical and production costs, are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from those forward-looking statements. Potential risks and uncertainties include such factors as the Company’s ability to successfully implement its manufacturing operations initiatives, product offerings, promotional activities and pricing strategies by competitors; acquisition integration costs; joint venture projects; warranty expenses; impact of changes in Polaris stock price on incentive compensation plan costs; foreign currency exchange rate fluctuations; environmental and product safety regulatory activity; effects of weather; commodity costs; uninsured product liability claims; uncertainty in the retail and wholesale credit markets; changes in tax policy and overall economic conditions, including inflation, consumer confidence and spending and relationships with dealers and suppliers. Investors are also directed to consider other risks and uncertainties discussed in documents filed by the Company with the Securities and Exchange Commission. The Company does not undertake any duty to any person to provide updates to its forward-looking statements.

(summarized financial data follows)

POLARIS INDUSTRIES INC.
CONSOLIDATED STATEMENTS OF INCOME
(In Thousands, Except Per Share Data)
(Unaudited)
		For Three Months Ended March 31,
		2013				2012
Sales		$	745,909			$	673,750
Cost of sales			529,261				478,787
Gross profit			216,648				194,963
Operating expenses:
Selling and marketing			54,493				45,133
Research and development			31,450				30,466
General and administrative			38,810				35,000
Total operating expenses			124,753				110,599
Income from financial services			10,074				7,183
Operating income			101,969				91,547
Non-operating expense (income):
Interest expense			1,473				1,512
Equity in loss of other affiliates			412				—
Other income, net			(2,468	)			(2,577	)
Income before income taxes			102,552				92,612
Provision for income taxes			27,088				32,534
Net income		$	75,464			$	60,078
Basic net income per share		$	1.10			$	0.88
Diluted net income per share		$	1.07			$	0.85
Weighted average shares outstanding:
Basic			68,793				68,637
Diluted			70,762				70,825

 

POLARIS INDUSTRIES INC.
CONSOLIDATED BALANCE SHEETS
(In Thousands)
(Unaudited)
Subject to Reclassification		March 31, 2013			March 31, 2012
Assets
Current Assets:
Cash and cash equivalents		$	380,750		$	285,889
Trade receivables, net			129,332			139,626
Inventories, net			370,856			314,042
Prepaid expenses and other			30,740			30,844
Income taxes receivable			9,194			—
Deferred tax assets			85,488			79,666
Total current assets			1,006,360			850,067
Property and equipment, net			274,737			219,779
Investment in finance affiliate			56,432			44,221
Investment in other affiliates			12,421			5,000
Deferred tax assets			24,240			10,709
Goodwill and other intangible assets, net			105,096			78,187
Other long-term assets			21,603			14,870
Total Assets		$	1,500,889		$	1,222,833
Liabilities and Shareholders’ Equity
Current Liabilities:
Current portion of capital lease obligations		$	2,627		$	2,736
Accounts payable			215,187			182,645
Accrued expenses:
Compensation			65,666			71,461
Warranties			40,941			40,430
Sales promotions and incentives			109,601			84,887
Dealer holdback			75,659			60,407
Other			71,930			72,271
Income taxes payable			18,017			167
Total current liabilities			599,628			515,004
Long term income taxes payable			3,616			8,120
Capital lease obligations			3,727			5,314
Long-term debt			100,000			100,000
Other long-term liabilities			62,080			45,136
Total liabilities		$	769,051		$	673,574
Shareholders’ Equity:
Total shareholders’ equity			731,838			549,259
Total Liabilities and Shareholders’ Equity		$	1,500,889		$	1,222,833
Certain reclassifications of previously reported balance sheet amounts have been made to conform to the current year presentation.

 

POLARIS INDUSTRIES INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In Thousands)
(Unaudited)
Subject to Reclassification		For Three Months Ended March 31,
		2013				2012
Operating Activities:
Net income		$	75,464			$	60,078
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			19,906				16,807
Noncash compensation			10,351				7,066
Noncash income from financial services			(1,052	)			(743	)
Noncash loss from other affiliates			412				-
Deferred income taxes			(1,170	)			(2,006	)
Tax effect of share-based compensation exercises			(5,379	)			(6,484	)
Changes in operating assets and liabilities:
Trade receivables			(10,393	)			(23,110	)
Inventories			(26,897	)			(13,249	)
Accounts payable			46,342				35,452
Accrued expenses			(80,823	)			(92,236	)
Income taxes payable/receivable			21,463				31,063
Prepaid expenses and others, net			(450	)			(13,300	)
Net cash provided by (used for) operating activities			47,774				(662	)
Investing Activities:
Purchase of property and equipment			(40,113	)			(20,957	)
Investment in finance affiliate, net			1,607				(1,227	)
Net cash used for investing activities			(38,506	)			(22,184	)
Financing Activities:
Borrowings under capital lease obligations			119				1,319
Repayments under capital lease obligations			(750	)			(766	)
Repurchase and retirement of common shares			(25,687	)			(5,871	)
Cash dividends to shareholders			(28,662	)			(25,328	)
Tax effect of proceeds from share-based compensation exercises			5,379				6,484
Proceeds from stock issuances under employee plans			4,995				6,529
Net cash used for financing activities			(44,606	)			(17,633	)
Impact of currency exchange rates on cash balances			(927	)			1,032
Net decrease in cash and cash equivalents			(36,265	)			(39,447	)
Cash and cash equivalents at beginning of period			417,015				325,336
Cash and cash equivalents at end of period		$	380,750			$	285,889

Source: Polaris Industries Inc.

####

Polaris Industries Announces 14% Increase in Cash Dividend for 2013

MINNEAPOLIS, MN – February 1, 2013 – (Motor Sports Newswire) – Polaris Industries Inc. (NYSE: PII) today announced that its Board of Directors approved a 14% percent increase in the 2013 regular quarterly cash dividend that raises the payout to $0.42 per share. The first quarterly dividend will be payable on March 15, 2013 to shareholders of record at the close of business on March 1, 2013.

“For the 18^th consecutive year we are raising our dividend payout, underscoring our focus on generating shareholder value. In 2012, we delivered another year of outstanding growth and profitability as our net income increased 37 percent on 21 percent sales growth. This performance, alongside our continued confidence in the execution of our long-term strategy, the strength of our balance sheet and our ability to generate strong cash flows, supports the 14% increase in our dividend,” Scott Wine, Polaris’ Chairman and CEO commented. “We are committed to maintaining a proper equilibrium between shareholder return and ongoing investment in the business. This balance is emphasized by our continued solid financial performance, even as we expand our operations worldwide including doubling the size of our research and development facility, continuing to fund the re-launch of Indian motorcycles and the development of our new European manufacturing facility.”

About Polaris

Polaris is a recognized leader in the powersports industry with annual 2012 sales of $3.2 billion. Polaris designs, engineers, manufactures and markets innovative, high quality off-road vehicles, including all-terrain vehicles (ATVs) and the Polaris RANGER^® and RZR^® side-by-side vehicles, snowmobiles, motorcycles and on-road electric/hybrid powered vehicles.

Polaris is among the global sales leaders for both snowmobiles and off-road vehicles and has established a presence in the heavyweight cruiser and touring motorcycle market with the Victory and Indian motorcycle brands. Additionally, Polaris continues to invest in the global on-road small electric/hybrid powered vehicle industry with Global Electric Motorcars (GEM), Goupil Industrie SA, and internally developed vehicles. Polaris enhances the riding experience with a complete line of Pure Polaris and KLIM branded apparel and Polaris accessories and parts.

Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock price index.

Information about the complete line of Polaris products, apparel and vehicle accessories are available from authorized Polaris dealers or anytime at www.polaris.com.

 

####

Polaris Recalls Ranger Due to Loss of Control and Crash Hazard

WASHINGTON, D.C. – January 9, 2012 – (Motor Sports Newswire) -

The following product safety recall was voluntarily conducted by the firm in cooperation with the CPSC. Consumers should stop using the product immediately unless otherwise instructed. It is illegal to resell or attempt to resell a recalled consumer product.

Name of Product: 2013 Polaris Ranger® 400 recreational off-highway vehicles

Units: About 327

Manufacturer: Polaris Industries Inc., of Medina, Minn.

Hazard: The recreational vehicle’s throttle can fail to operate properly, which can cause the vehicle’s rider to lose control, posing a crash hazard.

Incidents/Injuries: None reported

Description: This recall involves 2013 Polaris Ranger® 400 recreational off-highway vehicles with model number R13RH45AG and VIN numbers between 4XARH45A3D4726305 and 4XARH45A7DE648444. Not all VIN numbers in the range are included in this recall. To see a complete list of recalled VIN numbers visit the firm’s website. “Polaris” is stamped on the front of the vehicle above the front grill. A “400 HO” decal is located on the right and left side of the hood and “Ranger 4×4” is printed on the side of the rear bed box. The vehicles are green and gray in color. The model number is printed in the owner’s manual.

Sold at: Polaris dealers nationwide from July 2012 through September 2012 for about $8,300.

Manufactured in: United States and Mexico

Remedy: Consumers should immediately stop using the recalled Polaris Ranger vehicles and contact Polaris to schedule a free repair. Polaris is contacting its customers directly.

Consumer Contact: Polaris; toll-free at (888) 704-5290, from 8 a.m. to 5 p.m. CT Monday through Friday, or online at www.polarisindustries.com and click on Help Center under the Services and Support tab, then Common Rider Questions, then Service bulletins/recalls to check your VIN number.

The U.S. Consumer Product Safety Commission (CPSC) is still interested in receiving incident or injury reports that are either directly related to this product recall or involve a different hazard with the same product. Please tell us about your experience with the product on SaferProducts.gov

CPSC is charged with protecting the public from unreasonable risks of injury or death associated with the use of the thousands of consumer products under the agency’s jurisdiction. Deaths, injuries and property damage from consumer product incidents cost the nation more than $900 billion annually. CPSC is committed to protecting consumers and families from products that pose a fire, electrical, chemical or mechanical hazard. CPSC’s work to ensure the safety of consumer products – such as toys, cribs, power tools, cigarette lighters and household chemicals – contributed to a significant decline in the rate of deaths and injuries associated with consumer products over the past 30 years.

Under federal law, it is illegal to attempt to sell or re-sell a recalled product.

####

Polaris Declares Regular Cash Dividend

MINNEAPOLIS, MN – October 25, 2012 – (Motor Sports Newswire) – Polaris Industries Inc. (NYSE: PII) today announced the declaration of a regular quarterly $0.37 per share cash dividend payable on December 17, 2012 to shareholders of record at the close of business on November 30, 2012.

About Polaris
Polaris is a recognized leader in the powersports industry with annual 2011 sales of $2.7 billion. Polaris designs, engineers, manufactures and markets innovative, high quality off-road vehicles (ORVs), including all-terrain vehicles (ATVs) and the Polaris RANGER® side-by-side vehicles, snowmobiles, motorcycles and on-road electric/hybrid powered vehicles.

Polaris is among the global sales leaders for both snowmobiles and off-road vehicles and has established a presence in the heavyweight cruiser and touring motorcycle market with the Victory and Indian motorcycle brands. Additionally, Polaris continues to invest in the global on-road small electric/hybrid vehicle industry with Global Electric Motorcars (GEM) and Goupil Industrie SA, and internally developed vehicles. Polaris enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships.

Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock price index.

Information about the complete line of Polaris products, apparel and vehicles accessories are available from authorized Polaris dealers or anytime at www.polarisindustries.com.

SOURCE: Polaris Industries Inc.

####

2011-2012 Polaris Ranger RZR XP900 Aircharger Air Intake System

RIVERSIDE, CA – October 4, 2012 – (Motor Sports Newswire) -  K&N Engineering, Inc., releases a High-Flow Air Intake System for the2011-2012 POLARIS® Ranger RZR XP900 Side by Side. Designed to provide a guaranteed increase in horsepower and torque.

KEY FEATURES:

• Guaranteed increase in Horsepower!
• The Aircharger® Intake System, replaces the OEM Airbox
• Oversized Powder-coated aluminum airbox/heat shield
• High-Flow mandrel bent powder coated Intake tubes increases airflow velocity
• Incorporates 2 K&N “XD” Washable & Reusable High-Flow Air Filters™ lowering airflow restriction
• “XD” Extra fine weave pleated cotton for high filtration efficiency
• Includes all mounting hardware
• K&N One-Year Limited Warranty

PRODUCT DETAILS:
K&N’s Aircharger® High-Flow Air Intake System provides low restriction, long service intervals and delivers more horsepower to your RZR XP900.  It increases power by eliminating the restrictive stock OE airbox and replacing it with a powdercoated aluminum oversized airbox/heat shield, custom mandrel bent aluminum intake tubes and original K&N “XD Series” High-Flow Air Filters.  Oversized “XD Series” air filters are used, lowering restriction, providing long service intervals and excellent filtration efficiency.  The K&N Air Filters are washable, reusable, pre-oiled and ready for installation.

• No Fuel-management modifications necessary to obtain increased performance
• Intake Systems are sold complete, with all necessary mounting hardware included
• Covered by a K&N One-Year Limited Warranty®
• 63 Series Intake system are street legal in most states. However, they are not legal for use in California and other states adopting California emission standards

PRODUCT: 2011-2012 POLARIS RANGER RZR XP900 Aircharger® Air Intake System

PART NO: 63-1129 MSRP:  $349.00

KEY PRODUCT LINKS:
•Product Info  • Product Image  • Product Installation  • Product Dyno   

####

Spirit Lake Manufacturing Facility Builds Millionth Polaris Product

Orange Polaris RANGER Side-by-Side Vehicle Sets Milestone for Facility in Iowa

MINNEAPOLIS, MN – October 2, 2012 – (Motor Sports Newswire) – Polaris Industries Inc. (NYSE:  PII) announced that the one millionth product, an orange Polaris RANGER 800 Midsize side-by-side vehicle, rolled off its Spirit Lake, Iowa assembly line yesterday.

“One million units built marks an extraordinary milestone for our Spirit Lake operation,” said Bennett Morgan, Polaris President and COO.  “For nearly two decades Spirit Lake has been a manufacturing center of excellence and a vital contributor to our success.  Thanks to the adaptability of both our outstanding people and the facility itself, Spirit Lake has, in its 18 year history, produced each of our product lines (Snowmobiles, ATVs, Side-by-Sides and Motorcycles).”

The Spirit Lake facility was established in 1994, and has increased employment from 477 in 2009 and currently employs 750 people while operating three production lines building Polaris RANGERs and Victory motorcycles. A second facility adjacent to the main Spirit Lake plant manufactures the Indian Motorcycle, and a third facility in Milford, Iowa manufactures GEM (Global Electric Motorcar).

About Polaris
Polaris is a recognized leader in the powersports industry with annual 2011 sales of $2.7 billion. Polaris designs, engineers, manufactures and markets innovative, high quality off-road vehicles (ORVs), including all-terrain vehicles (ATVs) and the Polaris RANGER® side-by-side vehicles, snowmobiles, motorcycles and on-road electric/hybrid powered vehicles.

Polaris is among the global sales leaders for both snowmobiles and off-road vehicles and has established a presence in the heavyweight cruiser and touring motorcycle market with the Victory and Indian motorcycle brands. Additionally, Polaris continues to invest in the global on-road small electric/hybrid vehicle industry with Global Electric Motorcars (GEM) and Goupil Industrie SA, and internally developed vehicles. Polaris enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships.

Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock price index. Information about the complete line of Polaris products, apparel and vehicles accessories are available from authorized Polaris dealers or anytime at www.polaris.com.

 

####

High Lifter Products Releases Polaris Ranger Bronze Alloy Parking Brake Pad Kit

SHREVEPORT, LA – August, 2012 – (Motor Sports Newswire) – High Lifter Products Inc., the leader in custom aftermarket ATV accessories and products, today announced the release of its all-new Bronze Alloy Parking Brake Pad Kit for Polaris Ranger models.

Polaris Ranger parking brakes work great off the showroom floor and for awhile afterward – as long as you steer clear of deep mud and water. Through plenty of real-world riding, High Lifter’s research and development team found that mud, sand/grit, and even sand in muddy water can easily get trapped between the pads and rotors, eating away at the brake pads on our Ranger. Unfortunately, most drivers don’t notice that their parking brake pads are worn down until the most inconvenient time – when you need to park on an incline. The High Lifter Bronze Alloy Ranger Parking Brake Pads are designed to withstand mud and dirt that causes accelerated deterioration of stock brake pads and provide much longer service in mud.

Stock parking brake pads are made from automotive grade brake materials that wear quickly when exposed to near constant contact with mud and dirt trapped between the brake pad and the rotor. The High Lifter Bronze Alloy Ranger Parking Brake Pads are made from machined aluminum bronze which does a much better job of tolerating the harsh elements such as mud, sand/grit, and sandy water.

“We’re always looking for ways to improve the rider’s experience,” said Scott Smith, owner of High Lifter Products. “Whether it’s by giving riders additional clearance with our lift kits or improving the quality of a parking brake pad, we’re committed to providing well-executed parts and accessories that our customers can rely on.”

The all-new Pro Bronze Alloy Parking Brake Pad Kit for Polaris Ranger models are proudly made in the USA and are available for $89.95. More information can be found at www.highlifter.com.

About High Lifter Products
High Lifter Products, Inc. has been leading the industry in the development and marketing of unique, after-market accessories for UTVs and ATVs since 1996. Originally a one-man, hobby, High Lifter has since grown into a multi-million dollar corporation, operating a 27,700 square foot facility housing a retail showroom, warehouse, and performance shop.  Based in Shreveport, Louisiana High Lifter has earned a reputation for product development and collaborations with several OEMs that greatly enhance utility and performance for customers in the ATV market.

High Lifter is well known within its niche market for the creation of the largest outdoor, mud-riding venue in the country. High Lifter plays host to tens of thousands of ATV riders from all over the globe each year at its annual Mud Nationals event in Jacksonville, Texas.

High Lifter fans and customers know where to go for the best information, products and value.  A comprehensive product catalog can be found at the company website, http://www.highlifter.com where visitors can also get the latest information, browse photo galleries, and participate in High Lifter’s popular online forum. Or, visit High Lifter on Facebook at www.facebook.com/highlifteratv.

 

####

Polaris Debuts 2013 ORV and Motorcycle Product Lines

New, versatile Side-by-Sides and a modern take on the classic cruiser shine in a lineup full of stars

MINNEAPOLIS, MN – August 1, 2012 – (Motor Sports Newswire) – Polaris Industries Inc. (PII) unveiled its 2013 product offerings from its on-road and off-road vehicle divisions. The latest additions and updates deliver on Polaris’ reputation for innovation, introducing brand-new vehicles and upgrading features on the Company’s historic names. Among the new products to tackle the trails are the full-size RANGER®XP® 900, the RANGER 800 EFI Midsize, a powerful, two-seat model that fits in the back of a pickup truck, a new RZR® 570 LE with enhanced handling and agility, and the sporty Scrambler XP 850 H.O. ATV with its streamlined design for strong trail performance. For riders who prefer the highway to the backwoods, Victory is offering the all-new Boardwalk, a bold new cruiser with classic looks and forward-looking performance.

“Polaris is number one in powersports and our investment in new product innovation continues to lead the way,” said Bennett Morgan, president and chief operating officer of Polaris. “We have no plans of slowing down in model year 2013 – we intend to raise the bar. We’re introducing more new, innovative products and technologies to continue to create opportunities for more growth in markets around the world.”

Polaris unveiled its 2013 product lineup to dealers at Orleans Arena in Las Vegas during the company’s annual summer sales meeting.

Off-Road Vehicle Division
In recent years, Polaris has aggressively launched new products, evolved its off-road offerings and become No. 1 in the off-road industry with the best and most-innovative ATV and Side-by-Side offerings available. For model year 2013, Polaris will continue to innovate by introducing three new vehicles and making significant upgrades to existing products.

“Polaris’ innovation continues, once again, by creating products that raise the performance and value bar in the off-road industry,” said Dave Longren, vice president of off-road vehicles and ORV Engineering. “From the hardest working, smoothest riding ATV and RANGER Side-by-Sides, to the RZR line with the ultimate combination of power, suspension and agility, Polaris offers the most-complete line-up of off-road vehicles on the market.”

RANGER® Side-by-Side Vehicles
Since introducing the first RANGER and revolutionizing off-road vehicles, Polaris has defined the Side-by-Side market by regularly introducing compelling, new vehicles and upgraded features that bring to life the idea of Hardest Working and Smoothest Riding Side-by-Sides.

The 2013 lineup is no different, with the introduction of the ground-breaking, full-size RANGER XP 900. This completely redesigned RANGER features more than 500 new or improved consumer features including a new ProStar 900 engine, all-new chassis, new restyled cockpit, new flip-up seat storage, new Lock & Ride® PRO-FIT™ cab accessories, and a quieter ride courtesy of engine repositioning. This new vehicle represents a whole new class of Side-by-Side utility vehicles and will lead the way in establishing an entirely new Side-by-Side utility vehicle growth segment. The RANGER XP 900 joins the RANGER 800 and RANGER Diesel in the full-size category.

New to Polaris’ mid-size offerings, the RANGER 800 EFI Midsize provides Big Bore performance in a smaller, two-seat model that fits in the back of a pickup truck. The RANGER 800 EFI Midsize is perfect for any customer looking for a mid-sized footprint and price, with full-size power. It shares many features with its full-sized counterparts: On-Demand True All-Wheel Drive with VersaTrac, Independent Rear Suspension, heavy duty front end protection, high ground clearance and the longest suspension travel in its class. The RANGER 500 EFI, RANGER 400 and RANGER EV round out the 2013 mid-size offering.

Polaris also has updated its outstanding multi-passenger lineup for 2013, continuing to offer the RANGER CREW Diesel, the RANGER CREW 800 and RANGER CREW 500.

The RZR lineup is a full family of sport vehicles, covering high-performance, trail and multi-passenger models. RZR continues to be the only Side-by-Side line with razor sharp performance for the ultimate combination of power, suspension and agility.

For model year 2013, Polaris enhances the RZR lineup with increased agility, more ground clearance and added downhill control. The new RZR 570 Trail Limited Edition offers Electronic Power Steering (EPS) and a new unlocking differential for unmatched handling, and, for the first time on a RZR, an Engine Braking System (EBS) for enhanced control. All RZR 800s are getting new, dual rate springs, front and rear, providing more loaded ground clearance. This progressive spring design builds force faster as a rider gets further in the travel, ultimately providing as much as two inches more ground clearance, saving wear on vehicles and creating a more comfortable ride.

Polaris also will offer a wide variety of limited edition RANGER and RZR models in 2013.

All-Terrain Vehicles
Polaris increased the power in its Entry/Sport line for 2013 with the new Scrambler XP 850 H.O., available in both a base and Limited Edition package. The Scrambler XP 850 H.O. is geared towards riders who want a more powerful and sportier ride, combining the proven 850 twin, high-output EFI engine, Polaris’ exclusive On-Demand, True All-Wheel Drive, sports-tuned suspension and more streamlined design. For riders craving even more, Polaris offers a Limited Edition model with Electronic Power Steering (EPS), Fox Podium compression adjustable shocks, cast aluminum wheels, and stylish comfort features paired with a unique graphics package. The Entry/Sport line also includes three returning models: Trail Boss 330, Trail Blazer 330 and Phoenix 200.

Bearing the most heralded name and market share leadership in all-terrain vehicles, the Sportsman line again provides an incredible variety of features and functions to satisfy the needs of all ATV riders, spanning Polaris’ Premium, 2-Up and Value offerings, with a dozen unique models.

Polaris enhanced its best-selling Youth lineup for 2013, again offering five models based upon the Specialty Vehicle Institute of America’s (SVIA) Youth ATV categories. Polaris continues to be a leader in rider safety and ensuring that young riders have all-terrain vehicles that are the right size and outfitted with the proper safety features to make riding a fun, and safe, pastime for all ages.

On-Road Vehicle Division
Long-known as the leader in developing the best off-road vehicles, Polaris has brought an innovative perspective to the on-road vehicle market since the first Victory motorcycles rolled off the assembly line. Polaris has since redefined consumer expectations for on-road vehicles. Model year 2013 is no different. Victory Motorcycles again leads the way with an exciting lineup of bikes that offer superior performance and style. Joining Victory in this year’s lineup is the first offering from Indian Motorcycle since Polaris purchased the legendary brand last summer.

Victory Motorcycles®
“For the past year, Victory confidently challenged consumers with one simple phrase, ‘Ride One and You’ll Own One,’” said Steve Menneto, vice president of motorcycles for Polaris. “Now we’re taking that challenge a step further. We’re crushing outdated expectations of how an American motorcycle should look and perform. Our latest bikes promise to deliver a riding experience that will help riders enjoy the ride as they never have before.”

In concert with model year 2013, Victory is unveiling a new, modern logo that reflects the bold attitude of Victory bikes and Victory riders. The brand also is redefining how it looks at its lineup, now categorizing bikes in three distinct segments – cruisers, baggers and touring – to provide customers exactly what they want from their Victory motorcycle.

The all-new Victory Boardwalk headlines Victory’s 2013 cruiser class. With the look of a classic cruiser – wide beach handlebars, full floorboards and a healthy dose of chrome – Boardwalk performs like no other cruiser on the market. Powered by Victory’s trademark Freedom® 106/6 V-Twin engine, Boardwalk delivers power and torque few cruisers can match. Boardwalk is perfect for riders wanting a comfortable, relaxed ride on the open road. Joining Boardwalk in the 2013 lineup of cruisers are the Judge, High-Ball, Jackpot, and value-focused Vegas 8-Ball and Hammer 8-Ball.

In 2013, Victory is providing options to bagger riders that want the style and power of a cruiser with a few additional modern perks. Built on an innovative, cast aluminum chassis for an incredibly smooth ride, Victory baggers also are delivering the convenience of large saddlebags and the peace of mind of standard ABS. The Victory Hardball shows off these features with head-turning style, effortlessly integrating 21 gallons of hard bagger storage among ape-hanger handlebars and custom pinstriping design. The rest of Victory’s baggers are updated for 2013 as well, namely the Cross Country, which is sporting KICKER audio, a shorty black windscreen and lockable, weatherproof saddlebags.

Victory’s touring bikes continue to provide more comfort and storage than any other motorcycles in the touring category. The Cross Country Tour, Victory’s most popular motorcycle in 2012, offers more storage space than any other motorcycle in the world (41. 1 gallons) and the exclusive Victory Comfort Control System, allowing riders to manage airflow for ideal comfort. Joining the Cross Country Tour is the iconic Vision, which delivers unmatched styling and comfort, combined with world-class handling and wind protection for a great ride.

The legendary Ness family again lends their custom touch to three Victory models in 2013, with the Arlen Ness Signature Series Victory Vision, the Cory Ness Signature Series Victory Cross Country Tour and the Zach Ness Signature Series Victory Cross Country. All three build on standard editions and add custom touches such as custom paint, billet wheels, additional chrome and stylish accessories.

Indian Motorcycle
“Indian Motorcycle’s place in American history is undeniable,” said Menneto. “Indian’s legend was built not only on a dedication to innovation, but also on a dedication to its riders, an understanding that the brand was never bigger than those riding Indian bikes. We’re embracing that commitment to make riders proud to ride an Indian.”

Newfor 2013, the Chief Vintage Limited Edition harkens back to Indian’s roots, offering head-turning style and versatility for those long rides on the open road. The LE looks the part of an Indian bike, featuring a Pearl White and Thunder Black two-tone paint scheme and stylish chrome accents that add a custom touch to this already striking motorcycle. The quick detach passenger backrest and luggage rack allows you to go from cruising around with your crew to riding your favorite scenic route in no time. Indian Motorcycle will produce only 35 LE units.

Along with the limited edition, Indian will offer several bikes with the premium features and impeccable attention to detail synonymous with Indian. These include the Chief Vintage in three distinct color schemes, as well as the Classic in Solid Thunder Black or Solid Indian Red and the Dark Horse in Thunder Black Smoke.

Pure Polaris®
For 2013, Pure Polaris is offering more than 200 accessories for Polaris vehicles. The new Lock & Ride PRO-FIT cab is an industry-first, designed for total integration with the new RANGER XP 900. Developed in concert with the vehicle, this revolutionary cab connects directly with the vehicle’s frame, providing a secure fit, better seals and incomparable style. Changing out components on the cab takes seconds and doesn’t require tools, making it capable of adapting to changing conditions in real-time, another industry first. Additional accessories to ensure RANGER vehicles are hardest working include the new Glacier PRO Plow System, with Lock & Ride technology for easy installation and removal, and the Polaris PRO HD winch, with an incredible 4,500 lbs. rated pull available for all RANGER and RZR models. New accessories for Victory motorcycles enable riders to further customize their Victory with unique comfort features and more secure storage space to improve the riding experience.

Pure Polaris isn’t just accessories for vehicles. The line also boasts an expansive range of comfort, safety and stylish apparel for every rider, on- or off-road.

About Polaris
Polaris is a recognized leader in the powersports industry with annual 2011 sales of $2.7 billion. Polaris designs, engineers, manufactures and markets innovative, high quality off-road vehicles (ORVs), including all-terrain vehicles (ATVs) and the Polaris RANGER® side-by-side vehicles, snowmobiles, motorcycles and on-road electric/hybrid powered vehicles.

Polaris is among the global sales leaders for both snowmobiles and off-road vehicles and has established a presence in the heavyweight cruiser and touring motorcycle market with the Victory and Indian motorcycle brands. Additionally, Polaris continues to invest in the global on-road small electric/hybrid vehicle industry with Global Electric Motorcars (GEM) and Goupil Industrie SA, and internally developed vehicles. Polaris enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships.

Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock price index.

Information about the complete line of Polaris products, apparel and vehicles accessories are available from authorized Polaris dealers or anytime at www.polarisindustries.com.

SOURCE: Polaris Industries Inc.

####

Polaris Declares Regular Cash Dividend

MINNEAPOLIS, MN – July 30, 2012 – (Motor Sports Newswire) – Polaris Industries Inc. (NYSE: PII) today announced the declaration of a regular quarterly $0.37 per share cash dividend payable on September 17, 2012 to shareholders of record at the close of business on August 31, 2012.

About Polaris
Polaris is a recognized leader in the powersports industry with annual 2011 sales of $2.7 billion. Polaris designs, engineers, manufactures and markets innovative, high quality off-road vehicles (ORVs), including all-terrain vehicles (ATVs) and the Polaris RANGER® side-by-side vehicles, snowmobiles, motorcycles and on-road electric/hybrid powered vehicles.

Polaris is among the global sales leaders for both snowmobiles and off-road vehicles and has established a presence in the heavyweight cruiser and touring motorcycle market with the Victory and Indian motorcycle brands. Additionally, Polaris continues to invest in the global on-road small electric/hybrid vehicle industry with Global Electric Motorcars (GEM) and Goupil Industrie SA, and internally developed vehicles. Polaris enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships.

Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock price index.

Information about the complete line of Polaris products, apparel and vehicles accessories are available from authorized Polaris dealers or anytime at www.polarisindustries.com.

SOURCE: Polaris Industries Inc.

####