Harley-Davidson Cruising Higher Following Q4 Print

Shares of Harley-Davidson Inc (NYSE: HOG) were trading higher by more than 8 percent at $40.68 early Thursday morning after the company reported its fourth quarter results.

Harley-Davidson earned $0.22 per share in its fourth quarter on revenue of $1.18 billion. Wall Street analysts were looking for the company to earn $0.19 per share on revenue of $1.03 billion.

Net income for the quarter fell to $42.2 million from $74.50 million in the same quarter a year ago. Net income for the full fiscal year fell to $752.2 million from $844.6 million on total revenue of $6.0 billion.

Harley-Davidson noted its business was "adversely affected by heightened competitive pressures including those arising from shifts in world currencies."

Looking forward to the full fiscal year 2016, Harley-Davidson expects to deliver 269,000 to 274,000 units, representing an increase of 1 to 3 percent year-over-year.

"We are focused, with strength and resolve, on growing demand and building on our substantial market leadership position," said Matt Levatich, President and Chief Executive Officer, Harley-Davidson, Inc. "Although we expect the macro-economic environment to remain challenging, we are confident we'll continue to lead with our powerful brand – not simply because of our substantial strengths but through our increased demand driving investments and our incredibly talented and passionate employees and dealers."