Winnebago Industries is off to a good start for its fiscal year. The Forest City-based recreational vehicle manufacturer says profits rose about 26-percent in its first quarter as more customers were purchasing more profitable high-end motor homes. Winnebago CEO Bruce Hertzke says while they’re not on-pace for breaking any recent records, things looks positive.
Hertzke says he’s very happy to see the net income go up 26% compared to last year, though he says the economy and market are keeping the company from being quite where he’d like it to be. He says Winnebago saw sales increase 6.6% to 215-million dollars, from almost 202-million, boosted by sales of "Class A" large motor homes.
He says the average selling price went up and the larger products were selling better. Hertzke says Winnebago continues to flourish despite the downturn in the economy. Of the six main companies in the R-V industry, he says Winnebago is among only two that are doing very well, while one of the six has folded. Hertzke credits the hard work of his employees for the company’s success.
Winnebago reports a profit of ten-million dollars, or 34-cents a share. That’s up from about eight-million dollars, or 25-cents a share, a year ago. Wall Street expected 35-cents a share on sales of 215-million dollars.