Polaris Industries Inc. (NYSE: PII) today reported second quarter net income of $25.6 million, or a record $0.75 per diluted share, for the quarter ended June 30, 2010. By comparison, 2009 second quarter net income was $17.5 million, or $0.53 per diluted share. Sales for the second quarter 2010 totaled $430.9 million, an increase of 25 percent from $345.9 million recorded in the year-earlier period. “Polaris maintained strong momentum in the second quarter, driven by solid market share gains, sales growth and margin expansion. Innovation and execution enabled us to deliver another quarter of solid operating results in an overall economic and powersports industry environment that remains sluggish,” commented Scott Wine, Polaris’ Chief Executive Officer.

“Market share gains across most our product lines, and particularly in our ORV business, continue to drive retail sales demand ahead of our expectations. Together with continued product innovations, improved dealer inventory positions and the success of our go-to-market retail sales process called Max Velocity Program, the higher retail sales velocity in North America is fueling demand in our factories and positive impacts on our bottom line. Our international business also did well in the second quarter, with sales up 32 percent, as market share gains and growth offset the currency weakness and economic concerns in Europe. The 25 percent revenue growth was accompanied and supported by our operational excellence initiatives, which continued to deliver improvements in both product costs and efficiencies during the second quarter,” said Wine.

“Next week Polaris will unveil the new model year 2011 products at our annual dealer meeting. We have maintained our focus on product and process innovation and are very excited to introduce several new, high quality products within our ORV and Victory motorcycles lines,” Wine said. “We believe these products will further complement and enhance our current portfolio supporting our long track record of developing innovative utility and recreational vehicles for our customers. In an environment that has proven to be very unpredictable, the execution of the Polaris team has been exceptional and we expect the momentum we have generated in the first half of 2010 to continue throughout the remainder of the year.”