For the second consecutive quarter, Winnebago Industries Inc. out performed its industry peers by reporting a 25% increase in net income for the first quarter of its fiscal year 2002, which ended on Dec. 1.
The motorhome manufacturer earned $10.7 million during the September-through-November period, compared with $8.5 million earned during the same period a year earlier.
Excluding taxes and the impact of changes in accounting methods, Winnebago’s earnings increased 13% to $16.2 million.
Winnebago’s sales revenue during the 14-week period ended Dec. 1 increased 9% to $179.1 million, compared with $164.2 million in sales during a 13-week period a year earlier.
“The positive results were due to the excellent acceptance of the company’s new 2002 motorhomes,” said Bruce Hertzke, chairman, president and CEO. “Over 65% of the company’s products are new for 2002.”
Winnebago also experienced “very positive dealer response to our new products and considerable sales order volume growth versus a year ago” during the National RV Trade Show in Louisville three weeks ago, Hertzke added.
Among Winnebago’s new products or 2002 is the Winnebago Vista, a front-wheel-drive 21-foot Class C motorhome on a Volkswagen chassis with a V6 2.8L 201-horsepower gas engine.
The Itasca Sunstar Class C, Winnebago Sightseer Class A and Itasca Sunova Class A also are new for 2002.
In terms of unit volume, Winnebago shipped 1,507 Class A’s to its dealers during the 14 weeks ended Dec. 1, a 12% increase over the 1,345 Class A’s shipped during the comparable 13-week period a year earlier.
The company shipped 197 Rialta Class B’s during the period, a 74% increase when compared with 113 units delivered a year earlier. Winnebago shipped 810 Class C’s during the 14 weeks ended Dec. 1, a 5% decrease when compared with 852 Class C’s delivered a year earlier.
“The long term outlook for motorhome sales continues to appear very favorable,” Hertzke added.
The September-through-November period represents the second consecutive strong quarter for Winnebago despite the industrywide downturn in sales. During the June-through-August period, Winnebago’s net income increased 96% to 15.5 million.