Recreation vehicle maker Winnebago Industries Inc. continued to lose money in its fiscal first quarter, though its net loss narrowed from a year ago as the RV market showed signs of improvement.
The Forest City-based company said Thursday its order backlog more than quadrupled during the quarter, while dealer inventory fell 52 percent. Its loss was smaller than analysts expected, sending shares climbing in morning trading.
The RV industry has been pounded during the recession, as falling income and rising unemployment have caused consumers to reconsider purchases of big discretionary items. RV demand cratered during the first half of the year, though it has been leveling off in recent months.
Winnebago lost $1.3 million, or 5 cents per share, during the three months ended Nov. 28. It lost $9.6 million, or 33 cents per share, in the same period last year.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Forest City-based company said Thursday its order backlog more than quadrupled during the quarter, while dealer inventory fell 52 percent. Its loss was smaller than analysts expected, sending shares climbing in morning trading.
The RV industry has been pounded during the recession, as falling income and rising unemployment have caused consumers to reconsider purchases of big discretionary items. RV demand cratered during the first half of the year, though it has been leveling off in recent months.
Winnebago lost $1.3 million, or 5 cents per share, during the three months ended Nov. 28. It lost $9.6 million, or 33 cents per share, in the same period last year.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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