Attached files
| file | filename |
|---|---|
| 10-K/A - FORM 10-K AMENDMENT NO. 2 - Polaris Inc. | d268920d10ka.htm |
| EX-31.(A) - SECTION 302 CEO CERTIFICATION - Polaris Inc. | d268920dex31a.htm |
| EX-31.(B) - SECTION 302 CFO CERTIFICATION - Polaris Inc. | d268920dex31b.htm |
Exhibit 13
OTHER INVESTOR INFORMATION
STOCK EXCHANGE
Shares of common stock of Polaris Industries Inc. trade on the New York Stock Exchange under the symbol PII.
INDEPENDENT AUDITORS
Ernst & Young LLP, Minneapolis, MN
TRANSFER AGENT AND REGISTRAR
Communications concerning transfer requirements, address changes, dividends and lost certificates, as well as requests for Dividend Reinvestment Plan enrollment information, should be addressed to:
Wells Fargo Bank, N.A.
Shareowner Services
161 North Concord Exchange
South St. Paul, MN 55075-1139
1-800-468-9716
www.wellsfargo.com/com/shareowner_services
ANNUAL SHAREHOLDERS’ MEETING
The meeting will be held at 9:00 a.m. Central Time, April 28, 2011, at the Polaris Industries Inc. corporate headquarters, 2100 Highway 55, Medina, Minnesota. The proxy statement will be available on or about March 10, 2011. The shareholder-of-record date is February 28, 2011.
SUMMARY OF TRADING
For the Years Ended December 31,
| 2010 | 2009 | |||||||||||||||
| Quarter |
High | Low | High | Low | ||||||||||||
| First |
$ | 53.87 | $ | 42.04 | $ | 32.76 | $ | 14.53 | ||||||||
| Second |
65.00 | 51.08 | 36.62 | 21.05 | ||||||||||||
| Third |
66.82 | 51.79 | 44.00 | 30.31 | ||||||||||||
| Fourth |
81.39 | 63.83 | 49.74 | 37.33 | ||||||||||||
CASH DIVIDENDS DECLARED
Cash dividends are declared quarterly and have been paid since 1995. On January 20, 2011, the quarterly dividend was increased 13 percent to $0.45 per share.
| Quarter |
2010 | 2009 | ||||||
| First |
$ | 0.40 | $ | 0.39 | ||||
| Second |
0.40 | 0.39 | ||||||
| Third |
0.40 | 0.39 | ||||||
| Fourth |
0.40 | 0.39 | ||||||
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| Total |
$ | 1.60 | $ | 1.56 | ||||
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SHAREHOLDERS OF RECORD
Shareholders of record of the Company’s common stock on February 28, 2011, were 2,536.
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SHAREHOLDER COMPOSITION
DIVIDEND REINVESTMENT PLAN
Shareholders may automatically reinvest their dividends in additional Polaris common stock through the Dividend Reinvestment Plan, which also provides for purchase of common stock with voluntary cash contributions. For additional information, please contact Wells Fargo Shareowner Services at 1-800-468-9716 or visit the Wells Fargo Bank website at www.wellsfargo.com.
INTERNET ACCESS
To view the Company’s annual report and financial information, products and specifications, press releases, dealer locations and product brochures, access Polaris on the Internet at:
www.polarisindustries.com
www.victory-usa.com
INVESTOR RELATIONS
Security analysts and investment professionals should direct their business-related inquiries to:
Richard Edwards
Director of Investor Relations
Polaris Industries Inc.
2100 Highway 55
Medina, MN 55340
763-513-3477
richard.edwards@polarisind.com
RESEARCH COVERAGE AS OF FEBRUARY 2011
BMO Capital Markets Corp.
Citigroup
Craig-Hallum Partners
Feltl and Company, Inc.
KeyBanc Capital Markets Inc.
Longbow Research Morningstar, Inc.
RBC Capital Markets
Raymond James & Associates
Robert W. Baird & Co.
Sidoti & Company
Wedbush Morgan Securities
Wells Fargo Securities
STOCK-SPLIT HISTORY
| August 1993 |
2 for 1 | |||
| October 1995 |
3 for 2 | |||
| March 2004 |
2 for 1 |
CERTIFICATIONS
The Company’s chief executive officer submitted the annual CEO certification to the New York Stock Exchange, certifying that he is not aware of any violation by the Company of the New York Stock Exchange’s corporate governance listing standards.
The chief executive officer and chief financial officer certifications required by section 302 of the Sarbanes-Oxley Act of 2002 have been filed as exhibits to the Form 10-K included with this report.
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The selected financial data presented below is qualified in its entirety by, and should be read in conjunction with, the Consolidated Financial Statements and Notes thereto and other financial and statistical information, including the information referenced under the caption “Management’s Discussion and Analysis of Financial Condition and Results of Operation,” located in the Form 10-K included in this report.
| FOR THE YEARS ENDED DECEMBER 31, | 2010 | 2009 | 2008 | 2007 | ||||||||||||
| STATEMENT OF OPERATIONS DATA |
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| Sales Data: |
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| Total sales |
$ | 1,991.1 | $ | 1,565.9 | $ | 1,948.3 | $ | 1,780.0 | ||||||||
| Percent change from prior year |
27 | % | -20 | % | 9 | % | 7 | % | ||||||||
| Sales mix by product: |
||||||||||||||||
| Off-Road Vehicles |
69 | % | 65 | % | 67 | % | 67 | % | ||||||||
| Snowmobiles |
10 | % | 12 | % | 10 | % | 10 | % | ||||||||
| On-Road Vehicles |
4 | % | 3 | % | 5 | % | 6 | % | ||||||||
| Parts, garments and accessories |
17 | % | 20 | % | 18 | % | 17 | % | ||||||||
| Gross Profit Data: |
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| Total gross profit |
$ | 530.2 | $ | 393.2 | $ | 445.7 | $ | 393.0 | ||||||||
| Percent of sales |
26.6 | % | 25.1 | % | 22.9 | % | 22.1 | % | ||||||||
| Operating Expense Data: |
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| Total operating expenses |
$ | 326.3 | $ | 245.3 | $ | 284.1 | $ | 262.3 | ||||||||
| Percent of sales |
16.4 | % | 15.7 | % | 14.6 | % | 14.7 | % | ||||||||
| Net Income Data: |
||||||||||||||||
| Net income from continuing operations |
$ | 147.1 | $ | 101.0 | $ | 117.4 | $ | 112.6 | ||||||||
| Percent of sales |
7.4 | % | 6.5 | % | 6.0 | % | 6.3 | % | ||||||||
| Diluted net income per share from continuing operations |
$ | 4.28 | $ | 3.05 | $ | 3.50 | $ | 3.10 | ||||||||
| Net income |
$ | 147.1 | $ | 101.0 | $ | 117.4 | $ | 111.7 | ||||||||
| Diluted net income per share |
$ | 4.28 | $ | 3.05 | $ | 3.50 | $ | 3.07 | ||||||||
| CASH FLOW DATA |
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| Cash flow provided by continuing operations |
$ | 297.9 | $ | 193.2 | $ | 176.2 | $ | 213.2 | ||||||||
| Purchase of property and equipment |
55.7 | 43.9 | 76.6 | 63.7 | ||||||||||||
| Repurchase and retirement of common shares |
27.5 | 4.6 | 107.2 | 103.1 | ||||||||||||
| Cash dividends to shareholders |
53.0 | 50.2 | 49.6 | 47.7 | ||||||||||||
| Cash dividends per share |
$ | 1.60 | $ | 1.56 | $ | 1.52 | $ | 1.36 | ||||||||
| BALANCE SHEET DATA (at end of year) |
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| Cash and cash equivalents |
$ | 393.9 | $ | 140.2 | $ | 27.2 | $ | 63.3 | ||||||||
| Current assets |
808.1 | 491.5 | 443.6 | 447.6 | ||||||||||||
| Total assets |
1,061.6 | 763.7 | 751.1 | 769.9 | ||||||||||||
| Current liabilities* |
584.2 | 343.1 | 404.8 | 388.2 | ||||||||||||
| Long-term borrowings under credit agreements |
100.0 | 200.0 | 200.0 | 200.0 | ||||||||||||
| Shareholders’ equity |
371.0 | 204.5 | 137.0 | 173.0 | ||||||||||||
NOTE: All periods presented reflect the classification of the marine products division’s financial results, including the loss from discontinued operations and the loss on disposal of the division, as discontinued operations.
| * | 2010 Includes $100 million of short-term borrowings under credit agreements. |
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| 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||||||||
| $ | 1,656.5 | $ | 1,869.8 | $ | 1,773.2 | $ | 1,552.4 | $ | 1,468.2 | $ | 1,427.4 | $ | 1,327.0 | |||||||||||||
| -11 | % | 5 | % | 14 | % | 6 | % | 3 | % | 8 | % | 7 | % | |||||||||||||
| 67 | % | 66 | % | 66 | % | 67 | % | 64 | % | 58 | % | 62 | % | |||||||||||||
| 10 | % | 14 | % | 16 | % | 15 | % | 20 | % | 26 | % | 23 | % | |||||||||||||
| 7 | % | 5 | % | 4 | % | 4 | % | 2 | % | 1 | % | 1 | % | |||||||||||||
| 16 | % | 15 | % | 14 | % | 14 | % | 14 | % | 15 | % | 14 | % | |||||||||||||
| $ | 359.4 | $ | 411.0 | $ | 416.6 | $ | 356.0 | $ | 324.6 | $ | 299.2 | $ | 281.3 | |||||||||||||
| 21.7 | % | 22.0 | % | 23.5 | % | 22.9 | % | 22.1 | % | 21.0 | % | 21.2 | % | |||||||||||||
| $ | 238.4 | $ | 244.7 | $ | 242.7 | $ | 206.0 | $ | 181.8 | $ | 164.5 | $ | 153.2 | |||||||||||||
| 14.4 | % | 13.1 | % | 13.7 | % | 13.3 | % | 12.4 | % | 11.5 | % | 11.5 | % | |||||||||||||
| $ | 112.8 | $ | 137.7 | $ | 132.3 | $ | 115.2 | $ | 107.1 | $ | 93.8 | $ | 85.7 | |||||||||||||
| 6.8 | % | 7.4 | % | 7.5 | % | 7.4 | % | 7.3 | % | 6.6 | % | 6.5 | % | |||||||||||||
| $ | 2.72 | $ | 3.15 | $ | 2.97 | $ | 2.58 | $ | 2.28 | $ | 1.99 | $ | 1.81 | |||||||||||||
| $ | 107.0 | $ | 136.7 | $ | 99.9 | $ | 106.3 | $ | 99.4 | $ | 87.5 | $ | 79.1 | |||||||||||||
| $ | 2.58 | $ | 3.12 | $ | 2.25 | $ | 2.38 | $ | 2.12 | $ | 1.86 | $ | 1.67 | |||||||||||||
| $ | 152.8 | $ | 162.5 | $ | 237.1 | $ | 162.5 | $ | 195.8 | $ | 192.0 | $ | 105.1 | |||||||||||||
| 52.6 | 89.8 | 88.8 | 59.2 | 52.3 | 52.9 | 61.6 | ||||||||||||||||||||
| 307.6 | 132.3 | 66.8 | 73.1 | 76.4 | 49.2 | 39.6 | ||||||||||||||||||||
| 50.2 | 47.0 | 38.9 | 26.7 | 25.3 | 22.8 | 20.6 | ||||||||||||||||||||
| $ | 1.24 | $ | 1.12 | $ | 0.92 | $ | 0.62 | $ | 0.56 | $ | 0.50 | $ | 0.44 | |||||||||||||
| $ | 19.6 | $ | 19.7 | $ | 138.5 | $ | 82.8 | $ | 81.2 | $ | 40.5 | $ | 2.4 | |||||||||||||
| 393.0 | 374.0 | 465.7 | 387.7 | 343.7 | 305.3 | 240.9 | ||||||||||||||||||||
| 778.8 | 770.6 | 792.9 | 674.2 | 614.4 | 568.0 | 492.2 | ||||||||||||||||||||
| 361.4 | 375.6 | 405.2 | 330.5 | 313.5 | 308.3 | 238.4 | ||||||||||||||||||||
| 250.0 | 18.0 | 18.0 | 18.0 | 18.0 | 18.0 | 47.1 | ||||||||||||||||||||
| 167.4 | 377.0 | 368.1 | 325.7 | 282.8 | 241.6 | 206.7 | ||||||||||||||||||||
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