Thursday, January 19, 2006

Winnebago - Gas Prices, Consumer Confidence Cause For Concern

Unfortunately, record high gas prices dominated Winnebago's 2006 first fiscal quarter, which ended Nov. 26. The Forest City, Iowa-based company reported net income for the first quarter was $14.6 million, down from $19.5 million recorded in the first quarter of fiscal 2005.

"Revenues and net income for the quarter were negatively impacted primarily by lower motor home deliveries as a result of lower consumer confidence, which in our opinion is due mainly to the increase in fuel prices," said Bruce Hertzke, Winnebago's chairman and CEO, in a Dec. 14, 2005, press release. Full Story...

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