Winnebago Industries (WGO) revealed fourth-quarter earnings below the consensus on Thursday but touted a nearly 25% rise in sales on strong motor home demand and said it will continue ramping up production through 2013.
The Forest City, Iowa-based recreation vehicles maker posted net income of $40.9 million, or $1.41 a share, compared with a year-earlier $3.5 million, or 12 cents.
But excluding a tax benefit, Winnebago earned just 14 cents a share, below average analyst estimates of 17 cents in a Thomson Reuters poll.
Revenue for the three months ended Aug. 25 climbed 24.5% to $162.5 million from $130.5 million a year ago, narrowly below the Street’s view of $163 million.
As demand kicked up during the quarter Winnebago ramped up demand, and Winnebago CEO Randy Potts said the company will continue increasing production through fiscal 2013.
“The dramatic increase in our sales order backlog reflects the positive dealer response to our new 2013 model year products," Potts said. “We were pleased with the results for the fourth quarter, particularly as they related to our motor home business.”