Affinity Group Inc. (AGI), wholly owned subsidiary of Affinity Group Holding Inc., reports its net income increased 22% in 2003, despite a 1% decline in sales revenue.
The membership services provider, publisher and retailer earned $24.4 million in 2003, compared with a $20.0 million profit earned in 2002.
The owner of the Good Sam Club, Camping World retail stores and TL Enterprises, which publishes RV Business and RVBUSINESS.com, reported sales of $425.4 million last year, compared with $431.1 million in 2002.
Good Sam and other membership services revenue increased 3.3% in 2003 and publishing revenue climbed 7.2% higher last year, when compared with 2002.
AGI’s retail sector revenue declined by 6.1% in 2003 primarily because of a $16.4 million decrease in mail-order revenue because of a reduction in catalog circulation; lower RV sales; and a 0.4% decrease in sales at stores the company has operated for a least one year. The decrease was partially offset by additional revenue from the opening of three new stores last year and increases in installation fees, service work and other supply sales.
In addition to TL Enterprises, which also publishes MotorHome, Trailer Life and other RV consumer magazines, AGI owns Ehlert Publishing Group, which owns a variety of consumer and trade publications serving motorcycle, boating, snowmobile, ATV and hunting enthusiasts.