Atlanta, GA 4/18/12 (StreetBeat) -- Polaris Industries (NYSE: PII) raced off to a fast start this year, as first-quarter profit rose nearly 27%. The strong quarter prompted the all-terrain vehicle maker to raise its full-year guidance.Polaris earned $60.1 million, 85 cents a share. Analysts expected earnings of 77 cents.
Strong demand for ATVs and motorcycles boosted sales. All told, revenue increased 25% to $673.8 million. The Medina, Minn., company increased production at in its Mid West plants and its Monterrey, Mexico, facility to meet the demand.
Overseas, international sales expanded 20% to after Polaris completed its purchase of Goupil, a French manufacturer of electronic vehicles.
The warmest winter in 12 years did mean a slow season for snowmobiles. Snowmobile sales fell 48% to $4.6 million.
Polaris now expects better 2012 results. It upwardly revised its full-year earnings to $3.85 to $4 a share. Sales are expected to rise 10% to 13%. It competes with such companies as Harley Davidson, Nautilus and Arctic Cat.
Polaris shares rose 5.2% to $76.92 in pre-market trading this morning.
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