(Reuters) - Harley-Davidson Inc said motorcycle shipments for 2016 fell short of its estimates, and the company forecast shipments for this year to be flat to down modestly.
The Milwaukee-based company's shares were down 2 percent at $56.81 in premarket trading on Tuesday.
Harley, which commands about half the U.S. big-bike market, said motorcycle shipments fell 11.9 percent to 42,414 units in the fourth-quarter ended Dec. 31.
The company shipped 262,221 motorcycles in 2016, below its expectation of 264,000-269,000 units.
Harley's retail sales in the United States, its biggest market were flat, compared with a year earlier.
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The motorcycle maker's net income rose to $47.18 million, or 27 cents per share, in the fourth quarter ended Dec. 31, from $42.2 million, or 22 cents per share, a year earlier.
Revenue from motorcycles and related products fell to $933 million from $1.01 billion.
Analysts on average had expected earnings of 31 cents per share and revenue of $972.5 million, according to Thomson Reuters I/B/E/S.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Martina D'Couto)
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