WINNEBAGO INDUSTRIES REPORTS FOR QUARTER RESULTS
WINNEBAGO INDUSTRIES REPORTS FOR QUARTER RESULTS FOREST CITY, Iowa, Dec. 18 /PRNewswire/ -- Winnebago Industries,
Inc. (NYSE: WGO), today reported revenues of $60,175,000, for its first quarter of fiscal 1992 ended Nov. 30, 1991, an increase of 50 percent over revenues for the same period one year ago of $40,126,000.
Net loss for the first quarter totaled $1,840,000, or seven cents a share, a considerable improvement over the net loss of $8,039,000, or 32 cents a share, for the same quarter last year. According to Winnebago Chief Operating Officer Fred Dohrmann, the operating loss for the quarter was primarily attributed to losses in the company's Cycle-Sat subsidiary. "Although the company's business continues to be affected by the economic recession still gripping the nation, the increase in revenues in the first quarter over the same period last year reflects improved dealer confidence and excellent acceptance of the company's wide range of new 1992 motor home products," Dohrmann said. WINNEBAGO INDUSTRIES First Quarter Results Continuing Operations Quarter Ended 11/30/91 12/01/90 Net revenues $60,175,000 $40,126,000 Operating loss $(1,672,000) $(10,851,000) Financial expense $(74,000) $(162,000) Loss before taxes $(1,746,000) $(11,013,000) Provision (credits) for taxes $94,000 $(4,235,000) Loss from continuing operations $(1,840,000) $(6,778,000) Loss from discontinued operations, net of income tax credits -- $(1,261,000) Net loss $(1,840,000) $ (8,039,000) Loss per common share: Continuing operations $(.07) $(.27) Discontinued operations -- $(.05) Net loss $(.07) $(.32) Average weighted number of shares outstanding 25,012,000 24,937,000 -0- 12/18/91 /CONTACT: Sheila M. Davis of Winnebago Industries, 515-582-6803/ (WGO) CO: Winnebago Industries, Inc. ST: Iowa IN: AUT SU: ERN SM -- NY058 -- 3495 12/18/91 14:52 EST
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|Date:||Dec 18, 1991|
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