Dec 20 Winnebago Industries Inc, the
largest U.S. motor home maker, said it plans to increase its
production in the current quarter to meet the high demand that
also helped it report stronger-than-expected first-quarter
Shares of the company were up 13 percent at $15.95 at noon
on the New York Stock Exchange on Thursday. The stock rose to a
year-high of $16.22 earlier.
The company said its motorhome order backlog had more than
tripled from a year earlier to 2,118 units as of Dec. 1.
"We have continued to increase our production schedule and
have hired additional employees to meet this improved demand
during the last two fiscal quarters," Chief Executive Randy
Potts said in a statement on Thursday.
Order backlog, which the company defines as orders to be
shipped within the next six months, grew for both low- and
high-end products, Potts said on a conference call.
Growth in motorhome revenue was on strong demand for the
company's new entry-level Class A gasoline offerings, Chief
Financial Officer Sarah Nielsen said during the call.
The company's Class A models are conventional motor homes
constructed directly on medium- and heavy-duty truck chassis.
Winnebago introduced low-priced models after the recession
reduced demand for higher-end motorhomes costing up to $350,000.
Net income rose to $7.4 million, or 26 cents per share, from
$1 million, or 4 cents per share, a year earlier. Revenue rose
47 percent to $193.6 million. ()
Analysts on average had expected earnings of 10 cents per
share on revenue of $155.3 million, according to Thomson Reuters