Ingersoll Rand, parent company of Club Car, announced 4Q 2010 and full year earnings.
The company’s reported revenues increased 13 percent to $3,712 million, compared with revenues of $3,281 million for the 2009 fourth quarter. Total revenues excluding currency were up 14 percent, compared with 2009. … Full-year 2010 net revenues were $14,079 million, and increased 7 percent compared with reported net revenues of $13,102 million in 2009. Operating income for 2010 totaled $1,247 million, an increase of 43 percent compared with $872 million in 2009.
Relative to the rest of the company, Club Car underperformed.
Club Car revenues increased slightly compared with the fourth quarter of 2009, as increased sales for both golf cars and aftermarket were partially offset by declines in utility vehicles. Bookings declined due to slowing demand in the North American golf market and more difficult year-over-year comparisons.