After what the company’s C.E.O. calls the toughest two-year stretch in its history, Winnebago Industries is getting some good financial news. The Forest City-based motor home manufacturer reports a net profit of $706,000 for the second quarter, compared to a $10.4 million loss in the second quarter of 2009.
Winnebago CEO Bob Olson says the company is being helped out by a significant increase in “Class A” motor home deliveries to dealers, the R-Vs that are the biggest and most lucrative for the company. Olson says they’ve seen a pickup in business with dealers stepping up to build up their inventories for the spring market.
Olson cautions that the despite the increased production to satisfy dealer order backlogs, the economic recovery was still in its early stages and vulnerable to setbacks. He says we have an economy that is very fragile and the smallest of things could mean a setback for the company. Olson says he appreciates the loyalty of the employees through the economic downturn.
Winnebago revenues for the quarter ending February 27th were $110.5 million, an increase of 247% when compared to the same quarter a year ago, but the company did report an operating loss of $1-point-9 million for the time frame, better than the $18.6 million the company lost in the second quarter of 2009.
By Bob Fisher, KRIB, Mason City