REV Group Inc. ended its 2016 fiscal year with a more than $30 million profit and nearly $2 billion in revenue, according to a report by Milwaukee BizTimes.
The company is led by CEO Tim Sullivan and moved its headquarters to Milwaukee from Orlando, Fla., earlier this year. REV Group is working toward an initial public offering sometime next year and filed an amended prospectus with its full 2016 financial results last week. The filings did not set a date for the IPO, which was estimated at $100 million in the company’s initial filing.
The company increased its net income by 32% in 2016 to $30.2 million while revenue rose during the fiscal year to $1.93 billion.
The recreation segment increased by 16% to $478 million with an increase in Class A diesel and Class C units because of greater end market demand and slower international production last year. The increase was partially offset by fewer Class A gas models sold.
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