Winnebago Industries, Inc. (WGO) a provider of leisure vehicles, Thursday posted a profit for the second quarter versus a loss last year. The company said the quarter was favorably impacted by increased motorized demand, driving higher sales volume. Earnings per share beat analysts' estimates.
For the reporting period, the company posted net income of $6.3 million compared with a loss of $912 thousand last year. On a per share basis, profit was $0.22 per share versus a loss of $0.03 a year earlier.
Four analysts, on average, polled by Thomson Reuters estimated earnings per share of $0.15 for the quarter. Analysts estimates typically exclude one-time items.
The added sales volume, combined with firmer net pricing, increased manufacturing productivity and fixed cost leverage, resulted in higher operating margins, net income and earnings per share, said the company.
Revenue for the quarter witnessed a rise at $177.2 million, compared with $131.6 million reported a year earlier and consensus estimate of $170.86 million.
Looking forward, CEO and President Randy Potts said, "We believe the motorized RV market will continue to grow toward pre-recession levels. Improved economic indicators such as rising housing starts, lower unemployment and attractive interest rates should create a positive environment going forward."
For comments and feedback: editorial@rttnews.com