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The accelerated rate of RV production during the first three months of this year was indicated by seating supplier Flexsteel Industries Inc.’s report, issued Tuesday (April 20) night, that its RV industry-related revenues increased by 15% during the January-through-March period.
Flexsteel’s RV-related sales revenue during the three months ended March 31 amounted to $22 million
For the nine months ended March 31, Flexsteel’s RV-related sales revenue was up a more modest 10%, indicating the pace of the company’s RV seating sales accelerated during the first three months of this year.
Flexsteel’s RV-related sales revenue during the nine months ended March 31 totaled $62.4 million.
Additionally, the Dubuque, Iowa-based company, which also makes residential and office seating, reports its net income increased 79% during the three months ended March 31 to $2.5 million and its total sales increased 46% during the period to $107 million.
During the nine months ended March 31, Flexsteel’s net income increased 31% to $7.4 million and its total sales rose by 35% to $292.9 million.
The sharp increases in net income and sales revenue came largely as a result of Flexsteel’s acquisition of DMI Furniture Inc., a residential and office furniture manufacturer, on Sept. 18.