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Recreational vehicle and manufactured housing component supplier Patrick Industries Inc. reported a slight increase in sales for the company’s second quarter while earnings were impacted by market pressures in the RV industry.
Second quarter sales increased to just over $78.64 million from $78.62 million last year. For the six month-period, sales rose 9.7% to $158.4 million versus $144.3 million in the year prior.
Net income for the second quarter decreased to $238,000 from $555,000 in the previous year and year-to-date earnings rose to $107,000 compared with $33,000.
Paul E. Hassler, president and CEO for the Elkhart, Ind., company, noted, “While we have increased sales and market penetration into the manufactured housing industry, overall sales levels decreased from the robust first quarter trend due primarily to production declines as a result of excess finished goods inventory levels at certain of our recreational vehicle customers.”