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WINNEBAGO INDUSTRIES REPORTS SECOND CONSECUTIVE QUARTERLY PROFIT

WINNEBAGO INDUSTRIES REPORTS SECOND CONSECUTIVE QUARTERLY PROFIT
 FOREST CITY, Iowa, Oct. 26 /PRNewswire/ -- Winnebago Industries Inc. (NYSE: WGO), today announced revenues of $85,949,000 from continuing operations in the fourth quarter ended Aug. 29, 1992, an increase of 19 percent over revenues of $72,495,000 from continuing operations in the comparable period one year ago.
 The company reported net income of $2,317,000 for the fourth quarter of fiscal 1992, consisting of income of $2,733,000 from continuing operations and a loss of $416,000 from discontinued operations. This is a significant improvement over the net loss of $10,226,000 reported for the same period one year ago, consisting of losses of $1,316,000 from continuing operations and $8,910,000 from discontinued operations. Earnings on a per share basis for the fourth quarter of fiscal 1992 totaled nine cents versus a net loss per share of 41 cents in the comparable period one year ago. These results marked Winnebago Industries' second consecutive profitable quarter.
 Revenues of $294,994,000 from continuing operations of fiscal 1992 increased 32 percent compared to revenues from continuing operations of $222,648,000 for fiscal 1991.
 Results for fiscal 1992 (before the cumulative effect of a change in accounting principle) also show marked improvement with a loss of $2,795,000, or 11 cents per share, consisting of $1,769,000, or seven cents per share from continuing operations and a loss of $1,026,000, or four cents per share, from the company's discontinued commercial vehicle division. In comparison, a net loss of $29,381,000, or $1.18 per share, was reported in fiscal 1991, consisting of losses of $16,271,000, or 65 cents per share, from continuing operations and $13,110,000, or 53 cents per share, from discontinued operations.
 In fiscal 1992, generally accepted accounting principals required the company to adopt the provision of Statement of Financial Accounting Standards No. 106 "Employers' Accounting for Postretirement Benefits Other Than Pensions" with respect to individuals deferred compensation contracts. The adoption of Statement No. 106 was applied retroactively to the beginning of fiscal 1992, therefore, the company's prior fiscal 1992 quarterly results have been changed from amounts previously reported.
 The cumulative effect of this required change in accounting principle amounted to a non-cash change against earnings of $7,774,000, or 31 cents per share, in fiscal 1992, thus resulting in a net loss for fiscal 1992 of $10,569,000, or 42 cents per share.
 Winnebago Industries President and Chief Operating Officer Fred G. Dohrmann advised that fiscal 1992 was a year of growth and expansion from the company. "Historically, the recreation vehicle industry has been one of the first to be effected by a downturn in the nation's economy and one of the first to bounce back. This appears to be true once again with steady growth seen in sales at both the motor home dealer and retail customer levels."
 Continued expansion of the company's motor home lines for both the domestic and international markets has led to a wide array of new 1993 products, the newest of which is the bus-styled Vectra motor home. "Available in three models ranging from 33- to 37-feet in length," Dohrmann continued. "The Vectra was specifically designed for the full- time motor home enthusiast who requires an abundance of storage space and an array of home-styled features."
 "Fiscal 1993 looks extremely promising," Dohrmann said. "Demand for the company's 1993 products has been strong since the end of fiscal 1992 resulting in a better forward order position than the company has experienced in recent periods. As a result, current factory finished goods inventory levels approximate only three weeks of retail sales activity. Winnebago Industries' motor home market share is increasing and should continue to grow with the evident early success of the 1993 motor home lineup and further motor home products currently being developed."
 Revenues for the company's Cycle-Sat subsidiary grew to a record $10.2 million from $9.1 million in the previous fiscal year through focus on the expansion of client base, addition of television stations utilizing Cycle-Sat's equipment and research and development of new products. John K. Hanson, Winnebago Industries chairman and chief executive officer advised that due to a lower than anticipated sales volume for the fourth quarter, Cycle-Sat fell short of projected goals.
 "Our Cycle-Sat subsidiary has excellent growth potential," Hanson continued, "due to the increase in its customer base with the expected addition of several large, high-volume clients, renegotiation of the satellite lease contract and continued plans from expansion."
 Hanson also credits dedicated employees throughout the company and its subsidiaries for the improvement in fiscal 1992 results. "The 'Team Winnebago' spirit within the company has enabled employees to focus on cost reduction, customer satisfaction, market share expansion and profitability,'' Hanson concluded.
 WINNEBAGO INDUSTRIES, INC.
 Quarter ended
 8/29/92 8/31/91
 Results from continuing operations:
 Net revenues $ 85,949,000 72,495,000
 Operating income 2,933,000 57,000
 Financial income (expense) (200,000) 230,000
 Income before taxes 2,733,000 287,000
 Provision for taxes ---- 1,603,000
 Income (loss) from continuing operations 2,733,000 (1,316,000)
 Loss from discontinued operations (416,000) (8,910,000)
 Net income (loss) 2,317,000 (10,226,000)
 Net income (loss) per common share:
 Continuing operations .11 (.05)
 Discontinued operations (.02) (.36)
 Net income (loss) .09 (.41)
 Weighted average number of
 shares outstanding 25,021,000 25,005,000
 Year ended
 8/29/92 8/31/91
 Results from continuing operations:
 Net revenues $ 294,994,000 222,648,000
 Operating loss (1,088,000) (21,329,000)
 Financial expense (585,000) (340,000)
 Loss before taxes (1,673,000) (21,669,000)
 Provision (credit) for taxes 96,000 (5,398,000)
 Loss from continuing operations (1,769,000) (16,271,000)
 Loss from discontinued operations (1,026,000) (13,110,000)
 Cumulative effect of change
 in accounting principal (7,774,000) -------
 Net loss (10,569,000) (29,381,000)
 Net loss per common share:
 Continuing operations (.07) (.65)
 Discontinued operations (.04) (.53)
 Cumulative effect of change
 in accounting principle (.31) -----
 Net loss (.42) (1.18)
 Weighted average number of
 shares outstanding 25,016,000 24,986,000
 -0- 10/26/92
 /CONTACT: Shelia M. Davis, 515-582-6803, for Winnebago Industries/
 (WGO) CO: Winnebago Industries Inc. ST: Iowa IN: AUT SU: ERN


TM -- NY119 -- 5068 10/26/92 17:40 EST
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Date:Oct 26, 1992
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