Winnebago’s net income jumps
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Winnebago Industries Inc., the biggest maker of motor homes, said its fiscal first-quarter profit rose 26% as the company sold more luxury models and spent less on marketing.
Net income increased to $10 million, or 34 cents a share, from $7.9 million, or 25 cents, a year earlier, when the period was a week shorter, Forest City, Iowa-based Winnebago said. Sales in the quarter ended Dec. 1 rose 6.6% to $215 million.
The second straight quarter of higher profit came amid projections of falling sales for the RV industry because of the housing slump, high fuel prices and lower consumer confidence.
Earnings per share were a penny short of analysts’ expectations of 35 cents, the average of seven estimates compiled by Bloomberg.
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