Polaris Industries Inc. (NYSE: PII) announced today it is continuing a 28 year annual tradition of profit-sharing with its employees. The Company will distribute today nearly $10 million of its profits from the 2009 calendar year among approximately 2,200 hourly and non-salaried Polaris employees. On average, each of these employees will receive nearly 15 percent of their annual pay base. In addition, Polaris will distribute profit-sharing payments to each of its fulltime salaried employees today as well.
“Profit-sharing is something that is very important and fundamental to the culture at Polaris, especially as we continue to outperform the industry,” said Scott Wine, Chief Executive Officer. “We understand that Polaris’ success is built on a foundation of dedication, innovation, and hard work from our employees. To acknowledge and reward that extra effort is something we are proud to continue.”
Polaris began sharing its profits with employees in 1982, embracing the idea that the Company’s success is dependent on dedication and tireless work from its employees, and therefore, each employee was entitled to benefit from that success. Since its inception, Polaris’s profit-sharing program has shared cumulatively over $200 million with its hourly and non-salaried employees.
With annual 2009 sales of $1.6 billion, Polaris designs, engineers, manufactures and markets off-road vehicles (ORVs), including all-terrain vehicles (ATVs) and the Polaris RANGER®, snowmobiles and Victory Motorcycles® for recreational and utility use and has recently introduced a new on-road electric powered neighborhood vehicle.
Polaris is a recognized leader in the snowmobile industry, and one of the largest manufacturers of ORVs in the world. Victory Motorcycles, established in 1998 and representing the first all-new American-made motorcycle from a major company in nearly 60 years, are rapidly making impressive in-roads into the cruiser and touring motorcycle marketplace. Polaris also enhances the riding experience with a complete line of Pure Polaris® apparel, accessories and parts, available at Polaris dealerships.
Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII,” and the Company is included in the S&P Small-Cap 600 stock price index. Information about the complete line of Polaris products, apparel and vehicle accessories, is available from authorized Polaris dealers or anytime from the Polaris homepage at www.polarisindustries.com.