UPDATE: Harley-Davidson Reports Strong Rise In Q2 Profit, Lifts Shipment Forecast

Harley-Davidson Inc HOG reported a strong rise in its second-quarter net income and lifted its forecast of shipments for the full year. HOG's quarterly profit increased to $190.6 million, or $0.81 per share, from $71.2 million, or $0.30 per share, in the year-ago quarter. Its revenue climbed 18% to $1.3 billion. Its profit from continuing operations came in at $0.81 per share. Analysts were expecting earnings of $0.72 per share on revenue of $1.26 billion. HOG now projects to ship 228,000 to 235,000 motorcycles in 2011, versus its April forecast of 215,000 to 228,000 bikes. HOG shares jumped 5.05% to $43.50 in pre-market trading.