UPDATE: Winnebago Posts Higher FQ4 Profit

Winnebago Industries

reported a rise in its fiscal fourth-quarter earnings. The Forest City, Iowa-based company posted quarterly earnings of $12.9 million, or $0.48 per share, compared to $10.6 million, or $0.38 per share. Its revenue climbed 14.8% to $245.9 million. However, analysts were projecting a profit of $0.46 per share on revenue of $243.5 million. Motorhome revenue climbed 15.0%, while towables operating income rose by $1.4 million. Deliveries of motor homes climbed 25% to 2,364 units from 1,890 units, while deliveries of towable travel and fifth-wheel trailers rose to 723 units versus 717 units. Its motorhomes backlog declined around 44% to 1,899 units in the quarter. Chairman, CEO and President Randy Potts commented, "Demand for our products resulted in industry-leading unit volume growth and market share gains for Winnebago motorized products through the first seven months of calendar 2014 according to Statistical Surveys. The motorized growth and profitability within our towables business contributed to an outstanding fiscal year for the company resulting in year over year earnings per share growth of 45%. With a strong product lineup and increasing confidence in our towables group, we believe we are well positioned to leverage future growth opportunities." Winnebago shares gained 2.67% to close at $21.93 yesterday.