Friday, March 20, 2009

Winnebago Reports Loss in Q2

Motor homes maker Winnebago Industries Inc. (WGO: News ) reported a slip to loss in the second quarter, hurt by significantly lower sales of recreational vehicles and increased incentives, amid persisting declines in the global credit market. The company also participated in a "no net cost" loan program, in an effort to help it out of the crisis. However, extreme volatility in the market caused its revenues to drop more than 80% from the prior year.

Second quarter net loss was $10.38 million $0.36 per share, compared to a profit of $2.52 million or $0.09 per share in the year-earlier quarter.
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