Affinity Group Holding Inc. (AGI), parent of TL Enterprises Inc., publisher of RV Business and RVBUSINESS.COM, earned $11.9 million in 2002, a dramatic increase from the $566,000 it earned in 2001.
The Ventura, Calif.-based company’s total sales revenue increased 6.4% in 2002 to $431.1 million, largely due to a 9.8% increase in sales at the Camping World retail stores that were open for at least one year.
In addition to publishing and RV aftermarket accessories retailing, AGI is involved in providing membership services to RV owners through its Good Sam Club and other programs.
Sales revenue from the three business segments increased from 2.3% to 8.9% last year, the company added.
AGI’s operating income last year increased $4.1 million, or 11.5%, to $39.6 million. The $4.1 million increase in operating earnings combined with lower interest and other nonoperating expenses to yield pre-tax income from continuing operations, before extraordinary items and the effect of accounting changes, of $22.7 million in 2002, compared with $4.7 million in 2001.