Polaris 2004 Annual Report Download

Download and view the complete annual report

Please find the complete 2004 Polaris annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 30

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30

AN EVEN BETTER
RIDE
Polaris Industries Inc. 2004 Annual Report

Table of contents

  • Page 1
    RIDE Polaris Industries Inc. 2004 Annual Report AN EVEN BETTER

  • Page 2
    ... our Sportsmanâ„¢ product line. Our RANGERâ„¢ off-road utility vehicle line has redefined the market with industry-leading power and ride quality. And our Predatorâ„¢ sport quad takes handling to another level. Percentage of Sales by Product Line SNOWMOBILES Polaris pioneered snowmobiles 50 years...

  • Page 3
    ... completely new products and upgraded several current models for model year 2005, including: a new limited edition 700 EFI (electronic fuel injection) XP RANGER; an 800 EFI Sportsman; a military version ATV built for the consumer; a new Troy Lee edition Predator 500; and the new value-priced Phoenix...

  • Page 4
    Polaris Industries Inc. is headquartered in Medina, Minnesota, and designs, manufactures and markets innovative, high-quality, high-performance motorized products for recreation and utility use. • Our product lines consist of allterrain recreational and utility vehicles (ATVs), snowmobiles, ...

  • Page 5
    ... funding 35 new upgrades through capital assistance grants and introducing the ATV Experience Center to help dealers sell more productively. We signed about 160 fully engaged new dealers who are selling at five times the average of the 175 low-performing dealers that departed. 2004 Annual Report 1

  • Page 6
    ... performance in 2004. In July 2004, we concluded our 50th anniversary with a tremendous weekend celebration in St. Paul, Minn. It was a special opportunity to thank all our customers, dealers, employees and suppliers - and to recognize the loyal riders, individuals and business partners particularly...

  • Page 7
    ... the ATV market is growing at very strong double digit rates and we already have local Polaris teams in place. As we develop specific, unique products and build distribution for international markets, we will also make investments on the ground. Globally transferring the Polaris 2004 Annual Report...

  • Page 8
    ...should do no less. World-class technology. In April 2005, our new Polaris Technology Center opens with approximately 300 people dedicated to designing the best powersports products in the world. This investment - the largest in the Company's history - will accelerate development of broadly appealing...

  • Page 9
    ...our time on strategic initiatives such as: leadership; development and succession; quality; innovation; the dealer network; growth; acquisitions; becoming more global; and the new five-year vision to become a $3 billion company. Sustaining culture. The culture at Polaris is a strength, a competitive...

  • Page 10
    6 Polaris Industries Inc.

  • Page 11
    We are on a path to Dominance in Powersports through: • Continued Growth • Product Leadership • Breakthrough Innovation • Industry-Leading Productivity • More Powerful Dealers • Deeper Brand Loyalty • And an Even Better Ride 2004 Annual Report 7

  • Page 12
    Growth Steady, profitable growth built on our core strengths - and accelerated by new strengths overseas.

  • Page 13
    ... 80 percent of total company sales. These business lines provide a foundation of excellence for our company, and a platform for future growth - as we shift from a strong market position to dominance in all three product categories. ATVs. The Polaris Sportsman line is the best-selling ATV line in the...

  • Page 14
    Market leadership asserted with wave after wave of new products - thoughtfully planned and flawlessly executed. Leadership

  • Page 15
    ... we compete. New in ATVs. Approximately 62 percent of our ATV line is new for model year 2005, including these two upgraded models: • Sportsman. The Sportsman 800 Twin EFI takes our industry-first ATV electronic fuel injection technology a step further, with a more powerful engine and dual exhaust...

  • Page 16
    Innovation World-class technology breeds competitive differentiation.

  • Page 17
    ... ATV with the Sportsman 700 Twin EFI. Electronic fuel injection means smooth and responsive power at all speeds, easier starting and better performance in cold weather or high altitudes, and significantly improved fuel economy - approximately 15 percent better gas mileage. RFIDs meet ATVs - Polaris...

  • Page 18
    Productivity Employee-owners work harder because they share in the company's success.

  • Page 19
    ...sells" assembly line initiative to streamline production and tightly tailor it to current demand. When completed in 2005, we estimate the initiative will reduce supply chain lead-time by 35 percent. our internal cost of quality by 25 percent. High-quality products also yield cost savings after sale...

  • Page 20
    Dealers Grow the company by improving our distribution network and partnering with dealers to sell more.

  • Page 21
    .... Fifty-six dealers used their CAP money to upgrade to a Power Store - the new role model for Polaris dealerships (see caption) - and power up their sales. CAP Grant Dealers Sales Increase Van Wall Equipment, Olathe, Kansas New Building 137% Zack's V-Twin Cycles, Hyde Park, New York New Building 59...

  • Page 22
    Loyalty Stoking the passion of the Polaris rider nation.

  • Page 23
    ...multiple avenues for living a rider's lifestyle. Polaris riders helped kick off our 50th Anniversary celebration in February with a record-breaking event. More than 800 riders, many on vintage-era sleds, set the Guinness World Record for "Largest Organized International Snowmobile Trail Ride" at the...

  • Page 24
    ... of sales Build a dominant brand with industry-leading product quality and distribution REAR FENDER MOUNTED TO SWING ARM PASSENGER SEAT FASTENS TO SUBFRAME EXPOSED SUBFRAME SEAT HEIGHT LOWERED Total Return to Shareholders - Polaris vs. Market Indices One Year Total Return (2004) Five Year Total...

  • Page 25
    VEGAS DRAG BAR 36° RAKE PROJECTOR HEADLIGHT Polaris lead designer Mike Song drew this early rendering as he was designing the Hammer. It's a perfect example of the big ideas and bold spirit that will drive Polaris to achieve its "Dominant in Powersports" vision. "I think people are starting to ...

  • Page 26
    ... included in this report. For the Years Ended December 31, Statement of Operations Data from Continuing Operations Sales data: Total sales from continuing operations % change from prior year Sales mix by product: All-terrain vehicles Snowmobiles Motorcycles PG&A Gross profit data: Total gross profit...

  • Page 27
    ...(9.7) 7.2 (8.1) (1.5) Changes in Current Operating Items $(20.2) (7.5) (2.3) 50.4 11.9 (25.9) 51.8 19.3 (1.6) 45.7 One-time Provision for Litigation Loss, Net(1) - - - $(39.6 Net Cash Provided by Operating Activities $ 81.2 88.9 97.7 124.7 134.5 105.1 192.0 200.6 167.8 245.4 2004 Annual Report 23

  • Page 28
    ... and General Manager - All-Terrain Vehicles Kenneth J. Sobaski Vice President - Sales, Marketing and Business Development Gregory R. Palen Chairman of the Board of Polaris Industries Inc. and Chief Executive Officer of Spectro Alloys and Palen / Kimball Company Committees: Executive, Technology...

  • Page 29
    ... Highway 55 Medina, MN 55340 1-800-Polaris (1-800-765-2747) I N T E R N E T AC C E S S To view the Company's annual report and financial information, products and specifications, press releases, and dealer locations, access Polaris on the Internet at: www.polarisindustries.com www.victory-usa.com...

  • Page 30
    Polaris Industries Inc. 2100 Highway 55 Medina, MN 55340 763-542-0500 763-542-0599 fax www.polarisindustries.com © 2005 Polaris Industries Inc. Printed in the USA E Printed on recycled paper containing at least 10% post-consumer fiber.