Printer Friendly

WINNEBAGO INDUSTRIES ANNOUNCES SECOND-QUARTER RESULTS; ELECTION OF TWO OFFICERS

 WINNEBAGO INDUSTRIES ANNOUNCES SECOND-QUARTER RESULTS;
 ELECTION OF TWO OFFICERS
 FOREST CITY, Iowa, March 24 /PRNewswire/ -- Winnebago Industries, Inc. (NYSE: WGO), today announced results for the second quarter and the election of two officers.
 Revenues of $59,987,000 were reported for the quarter ended Feb. 29, 1992, an increase of 50.4 percent over revenues of $39,876,000 for the same period one year ago. Results for the second quarter ended, Feb. 29, 1992, show a loss from continuing operations of $4,132,000, or $.17 per share, an improvement over the comparable quarter a year ago which resulted in a net loss from continuing operations of $6,881,000, or $.28 per share.
 For the company's first six months ended Feb. 29, 1992, revenues were $120,162,000 compared to $80,002,000 for the comparable six months a year ago. Results for the six months ended Feb. 29, 1992, show a net loss from continuing operations of $5,972,000 or $.24 per share, versus a net loss from continuing operations of $13,659,000, or $.55 per share for the same period one year ago.
 According to Winnebago Industries President and Chief Operating Officer Fred G. Dohrmann, the increase in sales reflects a significant recovery from the severe impact experienced last year as a result of the conflict in the Middle East; however, business has been slow to recover due to the lengthening recession the country has experienced this past fall and winter.
 "We are anticipating the economy to improve throughout the remainder of our fiscal year," Dohrmann said. "Improvement in the economy, as well as continued favorable interest rates and stable fuel prices, should allow for further increases in the motor home market."
 Dohrmann continued, "Attendance at retail shows has been excellent and our newly introduced Winnebago Adventurer, Itasca Suncruiser and the Elante' have been very well received. The company continues to aggressively develop new products, with the first introductions of new 1993 models to begin this summer."
 In action taken during a recent meeting of the company's board of directors, Gregory M. Boman was elected to the position of vice president, product development, and Rex M. Miner was elected to the position of vice president, sales and marketing.
 Boman, 32, is now responsible for directing and coordinating all future motor home design and concept activities. Boman joined the company in 1983 and has served in numerous positions in sales, service, marketing and marketing communications, most recently as director of product styling.
 Miner, 50, is now responsible for the sales and marketing of the company's motor home products. He joined Winnebago Industries in 1974 as product development manager for the newly created Itasca division, and rejoined the company in 1989, most recently serving as vice president, product development. Miner has 24 years' experience within the recreation vehicle industry.
 RESULTS FROM CONTINUING OPERATIONS:
 Quarter Ended Six Months Ended
 2-29-92 3-2-91 2-29-92 3-2-91
 Net revenues $59,987,000 $39,876,000 $120,162,000 $80,002,000
 Operating loss (4,131,000) (9,822,000) (5,803,000)(20,673,000)
 Financial income
 (expense) 1,000 (428,000) (73,000) (590,000)
 Loss before
 taxes (4,130,000)(10,250,000) (5,876,000)(21,263,000)
 Provision (credits)
 for taxes 2,000 (3,369,000) 96,000 (7,604,000)
 Loss from continu-
 ing operations (4,132,000) (6,881,000) (5,972,000)(13,659,000)
 Loss from discontinued
 operations, net of
 income tax credits -- (1,988,000) -- (3,249,000)
 Net loss (4,132,000) (8,869,000) (5,972,000)(16,908,000)
 Loss per common share:
 Continuing
 operations (.17) (.28) (.24) (.55)
 Discontinued
 operations --- (.08) --- (.13)
 Net loss (.17) (.36) (.24) (.68)
 Average weighted
 number of shares
 outstanding 25,012,000 24,999,000 25,012,000 24,967,000
 -0- 3/24/92
 /CONTACT: Sheila Davis of Winnebago Industries, 515-582-6803/
 (WGO) CO: Winnebago Industries, Inc. ST: Iowa IN: AUT SU: ERN PER


TQ -- NY043 -- 1145 03/24/92 14:13 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 24, 1992
Words:670
Previous Article:AMERICAN HONDA MOTOR CO. REPORTS SECOND 10-DAY, MONTH-TO-DATE AND YEAR-TO-DATE SALES FOR MARCH 1992
Next Article:LEECO DIAGNOSTICS TRANSFERS RIA PRODUCT LINE ASSETS TO BINAX
Topics:


Related Articles
WINNEBAGO INDUSTRIES REPORTS FOR QUARTER RESULTS
FOURTH CONSECUTIVE PROFITABLE QUARTER FOR WINNEBAGO INDUSTRIES
WINNEBAGO INDUSTRIES REPORTS STRONG
WINNEBAGO INDUSTRIES REPORTS CONTINUED STRONG SALES AND EARNINGS GROWTH IN SECOND QUARTER
WINNEBAGO INDUSTRIES REPORTS RECORD YEAR-TO-DATE REVENUES
WINNEBAGO INDUSTRIES REPORTS RECORD THIRD QUARTER REVENUES
Winnebago Industries Announces Record Annual Revenues
Dynamic Growth in Winnebago Industries' Third Quarter/Nine Months Revenues and Earnings
Winnebago Industries Reports Record Revenues for the Second Quarter and First Six Months.
Tenth Consecutive Record Revenue Quarter Reported for Winnebago Industries.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters