Winnebago figures suggest RVs are turning the corner
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Forest City-based Winnebago Industries Inc. last week reported a 16.7 percent year-over-year increase in revenues for the first quarter of fiscal year 2010. The maker of motor homes had $81 million in revenues during the quarter ended Nov. 28, compared with $69.4 million for the year-ago period.
Still, the company incurred a net loss of $1.3 million in the latest quarter. A year ago, Winnebago lost $9.6 million in the first quarter.
The company reported a sales order backlog of 1,521 motor homes at the end of November, an increase of 350 percent compared with a year ago. It also reflects a 62 percent increase since Aug. 29, the end of fiscal 2009.
Chairman, President and CEO Bob Olson said in a press release, “The increased demand for our products is particularly noteworthy, since it is seasonally very unusual to have a significant increase at this time of year.”
Olson also noted that dealers have fewer unsold units on their lots. That inventory “declined 52 percent to 1,567 motor homes as of Nov. 28, 2009, versus 3,269 motor homes as of the end of the first quarter of fiscal 2009,” Olson said. “Retail sales have been much higher than wholesale shipments throughout the past 18 months.”