Aerials Forest City Winnebago

Forest City Winnebago

CHRIS ZOELLER, The Globe Gazette

FOREST CITY | Winnebago Industries is reporting $450 million in first-quarter revenue, an 83.5 percent increase compared to the same quarter last year.

Winnebago said in a news release it is continuing to see accelerated growth in its towable segment. First-quarter revenues for that segment were $259.7 million, up $209.5 million from the previous year. 

Grand Design RV recently celebrated its one-year anniversary as part of the company, President/CEO Michael Happe said in a statement, and "continues to perform well, as does our Winnebago-branded towable division."

"All of our businesses had a successful fall season, with strong new product showings at the two largest industry events of the year, driving an increased order backlog," Happe said. 

Revenues for Winnebago's motorized segment were $109.4 million, down 2.4 percent from the previous year. 

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Assembly line worker Scott Lieber examines the inner roof of an RV on the assembly line at Winnebago Industries in Forest City in March 2016. 

Happe said the company continues to improve operations to "drive long-term, sustainable profitability."

"We remain optimistic about the strength of the RV marketplace as a whole, with overall U.S. shipments expected to exceed 500,000 units in 2017, and a ninth consecutive year of growth projected in 2018," Happe said. 

In October, Winnebago reported it had more than doubled its profits from the previous year, bringing in $1.5 billion in revenue. 

Other notable first-quarter results include: 

• Gross profit — $62.8 million, an increase of 117.6 percent, compared to $28.9 million the previous year. 

• Operating income — $31.2 million, an increase of 69.4 percent, compared to $18.4 million the previous year. 

• Net income — $18 million, an increase of 53 percent, compared to $11.7 million the previous year. 

• Gross profit margin increased 220 basis points.

Contact Ashley at 641-421-0556 or on Twitter @GGashkmiller. 

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