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Winnebago Industries Inc., reported record sales and earnings for the second quarter of its fiscal year 2004, which ended on Feb. 28.
The manufacturer of Class A and Class C motorhomes reported today (March 18) that its second fiscal-quarter net income increased 29% to $15.9 million, compared with $12.3 million a year earlier.
Winnebago’s sales during the December-through-February period increased 43% to $266 million, compared with $186 million a year earlier.
During the six months ended Feb. 28, Winnebago’s earnings increased 19% to $33.9 million, compared with $28.6 million a year earlier.
The company’s sales increased 24% during the six months ended Feb. 28 to $521 million, compared with $419.3 million a year earlier.
“Sales of our 2004 Class A diesel products have been particularly strong since their debut last fall, resulting in an increase in Class A diesel unit volume of 96% in the second quarter of fiscal 2004, compared to the volume for the same period in fiscal 2003,” said Bruce Hertzke, chairman, president and CEO. “Winnebago Industries also saw growth in Class C sales, with an increase of 41% in unit volume compared to the second quarter of last year.”
Winnebago’s earnings would have been even larger were it not for the inclusion of “more competitively priced products” in its product mix, the “costs associated with an impending product recall,” somewhat higher manufacturing costs and “higher stock-based incentive compensation expense,” according to the company.