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Motorhome builder Winnebago Industries Inc. reports its earnings soared 53% during its second fiscal quarter, which ended March 2.
The Forest City, Iowa-based company earned $9.4 million during the December-through-February period, compared with $6.2 million earned during the same period a year earlier.
Helping provide the fuel for the higher profits was a 29% increase in sales revenue during the three months ended March 2 to $184.2 million.
During the first half of its fiscal year 2002, Winnebago’s net earnings climbed 37% to $20.2 million and its sales revenue increased 18.5% to $363.3 million.
“We believe that lower interest rates and improvements in economic conditions favorably affected demand for Winnebago Industries’ motorhomes, which, in turn, contributed to the increased revenues and earnings for the company’s second quarter,” said Chairman, President and CEO Bruce Hertzke.
“Further contributing to our favorable results was the strong interest in our new 2002 motorhomes, particularly our newly introduced Winnebago Sightseer and Itasca Sunova Class A models, as well as the new Winnebago Vista and Itasca Sunstar Class C motorhomes,” Hertzke continued.
During the three months ended March 2, Winnebago’s Class A motor home shipments climbed 30% to 1,470 units, compared with 1,127 Class A’s delivered to its dealers a year earlier. Winnebago’s diesel Class A shipments increased 5% during the December-through-February period to 404 units, the company reported.
Meanwhile, the company’s Class C deliveries also soared 44% during the December-through-February period to 978 units. It also reported almost a fivefold increase in shipments of its EuroVan Campers, a Class B motorhome, to 157 units, compared with 34 units delivered during the same period a year earlier.
Winnebago’s order backlog for Class A’s and Class C’s was 3,206 units as of March 2, a 108% increase when compared with its order backlog of 1,542 units as of Feb. 24, 2001.