Winnebago Reports Improved Financial Results
Revenues for the second quarter of fiscal 2010 ended February 27, 2010 were $110.5 million, an increase of 247 percent, versus $31.8 million for the second quarter of fiscal 2009. The second quarter of fiscal 2010 brought an increase in motor home deliveries, especially from the class A category. Despite the increased production, the company reported an operating loss of $1.9 million for the quarter, versus an operating loss of $18.6 million for the second quarter of fiscal 2009.
Revenues for the first six months of fiscal 2010 were $191.5 million, an increase of 89 percent, versus revenues of $101.2 million for the first six months of fiscal 2009.
“We are pleased to see a continued trend of sequential growth in revenues and gross profit,” said Winnebago Industries’ Chairman, CEO and President Bob Olson. "After hitting our lowest shipment levels in decades during the second quarter last year, we have seen improvement in revenues and gross profit each quarter since that time.”
“We also saw a sequential increase in dealer inventory this past quarter for the first time in two years as we increased our production levels to satisfy our sales order backlog. While we are encouraged with these improvements, the economic outlook remains uncertain and we believe retail sales will be the key driver to sustain our recovery and for continued growth going forward."