Harley-Davidson, Inc. (NYSE:HOG) revealed in an 8K filing with the SEC today its operating results and plan to institute share buyback program. Shares moved up 1% today on the news.

The associated press release contained the specifics:

"[The company announced] record revenue and earnings per share for its third quarter ended September 24, 2006. Revenue for the quarter was $1.64 billion compared to $1.43 billion in the year-ago quarter, a 14.3 percent increase. Net income for the quarter was $312.7 million compared to $265.0 million, an increase of 18.0 percent over the third quarter of 2005. Third quarter diluted earnings per share (EPS) were $1.20, a 25.0 percent increase compared to last year's $0.96.

During the first nine months of 2006, the Company repurchased 17.2 million shares of its common stock at a cost of $911.0 million. On October 11, 2006, the board of directors of Harley-Davidson, Inc. authorized a new share repurchase program for up to 20 million additional shares.

'As we look to the future, the Company believes it will continue to deliver EPS growth in the range of 11 - 17 % annually through 2009. We expect earnings growth to be driven by solid revenue growth, margin improvement and the benefits of strong free cash flow,' said Ziemer."

Harley Davidson remains a strong company with excellent cash flow and shareholder return (through a dividend and share buyback programs). This stock remains and excellent one for anyone looking for a solid company to invest in with relatively little risk.

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