Polaris Industries Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported sales of $1,431,049,000 compared with $1,217,789,000 a year ago. Income from financial services was $18,595,000 compared with $19,303,000 a year ago. Operating income was $122,478,000 compared with $98,743,000 a year ago. Income before income taxes was $117,977,000 compared with $85,459,000 a year ago. Net income was $31,475,000 or $0.49 per diluted share compared with $62,581,000 or $0.97 per diluted share a year ago. Adjusted sales were $1,429,733,000 compared with $1,217,789,000 a year ago. Adjusted income before income taxes was $133,202,000 compared with $106,913,000 a year ago. Adjusted net income was $95,329,000 or $1.47 per share compared with $76,096,000 or $1.18 per share a year ago. The decrease in income from financial services is attributable to lower income generated from the wholesale portfolio due to the lower dealer inventory levels.

For the year, the company reported sales of $5,428,477,000 compared with $4,516,629,000 a year ago. Income from financial services was $76,306,000 compared with $78,458,000 a year ago. Operating income was $359,657,000 compared with $350,278,000 a year ago. Income before income taxes was $318,791,000 compared with $313,251,000 a year ago. Net income was $172,492,000 or $2.69 per diluted share compared with $212,948,000 or $3.27 per diluted share a year ago. Net cash provided by operating activities was $579,980,000 compared with $571,783,000 a year ago. Purchase of property and equipment was $184,388,000 compared with $209,137,000 a year ago. Investment in other affiliates was $625,000 compared with $11,595,000 a year ago. Adjusted sales were $5,427,668,000 compared with $4,516,629,000 a year ago. Adjusted income before income taxes was $445,226,000 compared with $334,705,000 a year ago. Adjusted net income was $311,081,000 or $4.85 per share compared with $226,463,000 or $3.48 per share a year ago. The increase in net cash provided by operating activities for the 2017 period was due to the timing of accounts payable and accrued expense payments, somewhat offset by higher factory inventory.

For full year 2018, the company expects adjusted net income to be in the range of $6.00 to $6.20 per diluted share, compared with adjusted net income of $4.85 per diluted share for 2017. The 2018 full year guidance takes into account the impact of the corporate tax adjustments included in the recently passed Tax Cuts and Jobs Act by the U.S. Congress. Full year 2018 adjusted sales are anticipated to increase in the range of 3% to 5% over 2017 adjusted sales of $5,428 million.