Winnebago Industries Inc. reported record sales revenue and profits that nearly doubled during its third fiscal quarter, which ended May 29.
The motorhome manufacturer’s sales totaled $310.2 million for the March-through-May period, a 55% increase over the $200.2 million in sales in the same period a year earlier.
Winnebago’s net income amounted to $17.7 million during the three months ended May 29, a 90% increase over the $9.3 million it earned a year earlier.
The company would have posted record net earnings of $22.3 million for the period if it had not settled a lawsuit. That $22.3 million would have represented a 140% increase in earnings over the previous year.
Strong sales of Winnebago’s diesel-engine motorhomes were a major contributor to its sharply higher sales and earnings, said Bruce Hertzke, chairman, president and CEO.
“We were especially pleased with the volume of diesel products sold in the third quarter, which include the Winnebago Journey and Vectra and the Itasca Meridian and Horizon. We experienced a 127% increase in diesel motorhomes delivered during the third quarter versus the same period a year ago,” he said.
During the nine months ended May 29, Winnebago’s sales revenue increased 34% to $831.2 million, compared with $619.5 million during the same period a year earlier.
The New York Stock Exchange-listed company’s net income also increased 36% during the nine-month period to $51.7 million, compared with $37.9 million a year earlier.
Winnebago shipped a total of 3,444 Class A and Class C motorhomes to its dealers during the three months ended May 29. That represents a 32% increase when compared with the 2,601 units delivered in the same period a year earlier, a time when consumer confidence was just starting to recover from worries about war in Iraq.
Winnebago’s order backlog stood at 2,444 units as of May 29, a 72% increase over the 1,419 units on the same date a year earlier, according to the company.