MILWAUKEE, Feb. 8 /PRNewswire-FirstCall/ -- Following six
non-production days related to a strike at its largest assembly plant,
Harley-Davidson, Inc. (NYSE: HOG) announced today that motorcycle shipments
for the first quarter of the year will not meet previously established
guidance. First quarter 2007 shipments of Harley-Davidson motorcycles had
been expected to be between 82,000 and 84,000 units.
At this time, the Company is not providing motorcycle shipment guidance
for the first quarter, nor is it prepared to predict whether the strike
will have an effect on full year financial guidance.
Approximately 2,800 unionized employees who are members of the
International Association of Machinists and Aerospace Workers (IAM) Local
175 are currently on strike at the Company's facility in York, Pa. The
Harley- Davidson employees in York primarily manufacture and assemble
Touring and Softail model motorcycles.
As a result of the strike, the Company has reduced production of
engines and transmissions at its facility in Menomonee Falls, Wis. and
injection- molded and other components in Tomahawk, Wis. Layoffs could
begin as soon as the week of February 12th for some employees. The initial
layoffs will be voluntary; involuntary layoffs will be implemented as
necessary.
Harley-Davidson, Inc. is the parent company for the group of companies
doing business as Harley-Davidson Motor Company, Buell Motorcycle Company
and Harley-Davidson Financial Services. Harley-Davidson Motor Company, the
only major U.S.-based motorcycle manufacturer, produces heavyweight
motorcycles and offers a complete line of motorcycle parts, accessories,
apparel, and general merchandise. Buell Motorcycle Company produces sport
and sport-touring motorcycles. Harley-Davidson Financial Services provides
wholesale and retail financing and insurance programs to Harley-Davidson
dealers and customers.
The Company intends that statements relating to guidance in this
release are "forward-looking statements" intended to qualify for the safe
harbor from liability established by the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements are subject to certain
risks and uncertainties that could cause actual results to differ
materially from those anticipated as of the date of this release.
Certain risks and uncertainties are described below. Shareholders,
potential investors, and other readers are urged to consider these factors
in evaluating the forward-looking statements and cautioned not to place
undue reliance on such forward-looking statements. The forward-looking
statements included in this release are only made as of the date of this
release, and the Company disclaims any obligation to publicly update such
forward-looking statements to reflect subsequent events or circumstances.
The duration of the work stoppage at the York, PA facility is one
factor that could affect actual results. The Company's ability to meet
targets and expectations also depends upon, among other factors, the
factors that the Company identified in its January 18, 2007 press release
announcing 2006 results. Other factors are described in risk factors that
the Company has disclosed in documents previously filed with the Securities
and Exchange Commission.
SOURCE Harley-Davidson, Inc.
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Related links:
http://www.harley-davidson.com
CONTACT:
Investor Relations, Mark Van Genderen,
+1-414-343-8002, or Media, Bob Klein, +1-414-343-4433, of
Harley-Davidson, Inc.
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