Harley-Davidson forecasts drop in 2018 shipments

(Reuters) - Harley-Davidson Inc's motorcycle shipments for 2017 came in at the lower end of its estimates, the company said on Tuesday, and forecast a drop in numbers for this year.

The motorcycle maker's net income fell to $8.31 million, or 5 cents per share, in the fourth quarter ended Dec. 31, partly due to a charge related the new tax law. It earned $47.18 million, or 27 cents per share, a year earlier.

Revenue from motorcycles and related products rose to $1.05 billion from $933 million.

(Reporting by Rachit Vats in Bengaluru and Rajesh Kumar Singh in Chicago; Editing by Saumyadeb Chakrabarty)