Harley-Davidson 2Q profit up 30 pct on US demand

MILWAUKEE (AP) — Harley-Davidson Inc. said today that its second-quarter net income jumped 30 percent, as demand for its motorcycles continued to grow both at home and abroad.

But the Milwaukee-based company's revenue for the quarter fell short of expectations, as warmer-than-usual weather in the first quarter of the year that pulled forward some second-quarter sales. Lower European demand also reduced sales.

"We continue to remain cautious in our expectations for retail sales globally in an environment of greater economic uncertainty, including in Europe where sales are clearly being affected by the challenging Eurozone economy," Keith Wandell, Harley's chairman, president and CEO, said in a statement.

Its shares fell more than 3 percent in morning trading.

Harley reported net income of $247.3 million, or $1.07 per share, for the three months ended July 1. That's up from $190.6 million, or 81 cents per share, a year ago. Analysts polled by FactSet expected earnings of $1.05 per share.