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Motorhome builder Winnebago Industries Inc. reported record sales and earnings after the stock market closed today (June 19).
The New York Stock Exchange-listed company earned $18.1 million during the three months ended June 1, a 45% increase over the $12.4 million it earned during March-through-May period of 2001.
Winnebago’s third fiscal quarter sales also climbed 26% to a record $246.6 million.
“Excellent acceptance of Winnebago Industries’ motorhomes, as evidenced by our continued market share gains, as well as improvements in consumer confidence levels and sustained low interest rates, all contributed to the success of our third (fiscal) quarter and (fiscal) year-to-date results,” said Bruce Hertzke, chairman, president and CEO.
“It’s also very important to recognize our employees’ efforts, working overtime in order to meet customer demand,” Hertzke added. “It was through the hard work of all our company’s workers that we were able to achieve this high degree of success.”
During its third fiscal quarter, Winnebago’s Class A motorhome shipments increased 19.7% to 1,965 units and its diesel engine Class A shipments climbed 24.4% to 489 units. Its Class C motorhome delivery volume increased 32.9% to 1,390 units although its Class B EuroVan Camper shipments declined 13.6% to 228 units.
Winnebago’s order backlog for Class A’s was 1,721 units as of June 1, compared with 848 units a year earlier. Its Class C motorhome order backlog was 968 units as of June 1, versus 347 units a year ago.
Winnebago, based in Forest City, Iowa, also had an industry-leading 20.7% retail market share in the combined Class A and Class C motorhome category during the first four months of this year, said Hertzke, citing Statistical Surveys Inc. data. During the first four months of 2001, Winnebago’s market share was 18.1% in the combined Class A/Class C grouping.
In Class A’s, Winnebago’s retail market share was 18.5% during the first four months of this year, compared with 15.6% a year earlier. In Class C’s, its market share was 26.4% during the first third of this year, versus 24.4% a year earlier, according to Statistical Surveys, an independent market research firm.
During the nine months ended June 1, Winnebago’s net earnings increased 41% to $38.3 million and its sales soared 22% higher to a record $607.5 million.
In an effort to satisfy the anticipated future demand for its motorhomes, Winnebago has broken ground to build a new assembly plant in Charles City, Iowa. Production at the new factory is expected to begin “by early 2003,” Hertzke said.