Winnebago Industries Inc. reported record earnings and sales for its fourth fiscal quarter and all of fiscal 2004 as the motorhome builder surpassed the $1 billion annual revenue benchmark for the first time.
“The fourth (fiscal quarter) benefited from additional Class A diesel motorhome sales while fiscal 2004 was positively impacted by increased motorhome sales volume overall, as well as a stronger mix of Class A diesel products,” said Bruce Hertzke, chairman, president and CEO of the Forest City, Iowa company.
During the 12 months ended Aug. 28, Winnebago’s net profit increased 41% to a record $70.6 million, compared with $49.9 million earned during its fiscal year 2003, while sales rose 32% to $1.1 billion versus $845.2 million a year earlier.
For the fiscal fourth quarter, Winnebago reported net earnings during the June-through-August period increased 58% to a record $19 million, compared with $12 million a year earlier. Winnebago’s fourth-fiscal-quarter sales increased 25% to a record $283 million, compared with $225.7 million last year.
“The successful launch last fall of our new Winnebago Vectra and redesigned Journey, as well as the new Itasca Horizon and Meridian diesel motorhome products in our 2004 product lines provided significant momentum for our growth in the Class A diesel market throughout the year,” Hertzke said.
The New York Stock Exchange-listed company’s share of the diesel Class A retail market expanded to 14.3% during the first eight months of this calendar year, compared with 8.9% during the first eight months of 2003, Hertzke added.