Polaris releases 2011 snowmobile lineup

Polaris Industries Inc. on Wednesday unveiled its 2011 snowmobile lineup, which will include 11 new models.

Including the new rides, Medina-based Polaris sells over 20 models of snowmobiles, according to the firm’s Web site.

“As a company, we’ve always prided ourselves on developing exemplary products that set new industry standards, something we’ve continued in 2011,” Bennett Morgan, firm president and chief operating officer said in a media release. “We fully expect the quality of these new products to further our growth and gains across all market categories.”

Despite large snowfall in Minnesota, 2009 sales sunk for Polaris (NYSE: PII). Snowmobile sales dropped 13 percent to $179 million, and overall company sales fell 20 percent to $1.5 billion.

The largest part of the firm’s sales come from their off-road vehicles, which held the number one market share position in both North America and Europe in 2008, according to the company’s 2009 financial report. Off-road sales fell 22 percent to $1.02 billion.

Still, the company says it expects full-year 2010 earnings to increase 3 to 8 percent to a range of between $3.15 and $3.30 per diluted share, as compared to 2009’s $3.05 per share.