February 16, 2010 / 1:27 PM / in 7 years

UPDATE 1-Drew Industries posts Q4 profit

2 Min Read

* Sees strong Q1 results for RV segment

* Q4 EPS $0.13 vs loss $.43/shr year ago

* Q4 revenue up about 37 pct

Feb 16 (Reuters) - Drew Industries Inc DW.N, which makes components for recreational vehicles (RV) and manufactured homes, swung to a fourth-quarter profit, helped by an increase in sales in its RV segment.

The company also said it expects strong first-quarter results in the RV segment, given sales growth in January.

For the quarter, the company reported net income of $2.9 million, or 13 cents a share, compared with a loss of $9.2 million, or 43 cents a share, a year ago.

The results included 7 cents a share in charges related to plant closings and start-ups and employee relocation.

Revenue rose about 37 percent to $104.6 million.

Analysts on average were expecting the company to earn 19 cents a share, on revenue of $101 million, according to Thomson Reuters I/B/E/S.

Sales in the RV segment rose 74 percent to $82 million.

Shares of the White Plains, New York-based company closed at $21.90 Friday on the New York Stock Exchange. (Reporting by Fareha Khan in Bangalore; Editing by Vinu Pilakkott)

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