Winnebago Industries Inc. reported an 80.6 percent decline in revenues for its fiscal second quarter, due to less demand for motor homes, increased incentives at dealerships and a greater demand for cheaper vehicles.

Revenues were $31.8 million for the three months ended Feb. 28, compared with $164.2 million for the year-ago period. The Forest City-based company had a net loss of $10.4 million, compared with net income of $2.5 million in the second quarter of fiscal 2008.

“We anticipate continued softness in motor home sales until we see improvement in the credit markets at the wholesale and retail levels and in consumer confidence levels,” Winnebago Chairman, CEO and President Bob Olson said in a release.

Industrywide, wholesale shipments of Class A and Class C motor homes fell 49.5 percent in 2008, but Winnebago continues to lead the market in retail sales with an 18.5 percent market share last year, compared with an 18.6 percent share in 2007, the company said.

Winnebago also has taken steps to maintain liquidity and conserve cash, including reducing inventory levels, establishing a line of credit, participating in a “no net cost” loan program of $9.1 million through UBS AG, suspending its cash dividend payments and reducing its total headcount by nearly 50 percent.

The company had cash and cash equivalents of $27.5 million at the end of the quarter, versus $17.9 million a year earlier. It expects fixed-cost reductions of more than $21 million in fiscal 2009.