Friday, October 17, 2008

Winnebago RV endures tough, tough quarter

Britt News Tribune - Forest City,IA,USA
FOREST CITY -- Winnebago Industries announced Thursday that it suffered a net income loss of almost $13 million and finished with its least profitable fiscal year in more than a decade.

"It was a tough quarter, a tough, tough quarter," Winnebago Chairman of the Board and CEO Bob Olson said, "and we knew it would be because we've been living through it."

The Forest City-based motor-home manufacturer reported a net loss of $12.7 million in the quarter that ended Aug. 30, and that included an $18.9 million operating loss. The company's net loss was less because of favorable tax settlements.

For the year, Winnebago recorded a profit of $2.8 million, down 93 percent from the $41.6 million the company made in fiscal 2007.
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