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Winnebago net income down 2.2 percent in second quarter

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Winnebago Industries Inc. reported an 18 percent decline in operating income for the second quarter, driven primarily by a decrease in RV sales. Operating income was $28.9 million for the quarter, compared with $35.3 million in the second quarter of last year.

The Forest City-based manufacturer’s revenues for the quarter ended Feb. 23 were $432.7 million, a decrease of 7.6 percent compared with $468.4 million for the fiscal 2018 period. Fiscal 2019 second-quarter net income was $21.6 million, a decrease of 2.2 percent from $22.1 million in the same period last year.

“Our solid consolidated second-quarter results represent the growing strength of our brands in the marketplace,” Winnebago President and CEO Michael Happe said in a release. “We continued to make progress advancing our competitive position, gaining market share and increasing the overall appeal of our products with customers, despite challenging macro conditions within the RV industry as dealers continued to reduce their overall inventory levels in the quarter.” Although sales decreased modestly, they continue to materially outpace the industry and expand year-over-year margins, he said.