Reuters: Global Markets: Strong motor homes demand boosts Winnebago sales

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Strong motor homes demand boosts Winnebago sales Jun 27th 2013, 12:00 Thu Jun 27, 2013 8:00am EDT (Reuters) - Winnebago Industries Inc (WGO.N) reported higher-than-expected quarterly revenue in the important spring selling season as rising U.S. consumer confidence pushed up demand for its recreational vehicles. Shares of the No.1 maker of motor homes in the United States were up 6 percent at $22.20 before the bell on Thursday. Sales of motor homes jumped 55 percent to 1,978 units in the third quarter ended June 1. Sales of towables rose 10 percent to 713 units. "We have had exceptional growth throughout fiscal 2013, experiencing the best shipment quarter in over five years," Chief Executive Randy Potts said in a statement. (r.reuters.com/tyz29t) U.S. consumer confidence rose to its highest level in June, supporting the Federal Reserve's view that risks to the economy have lessened. Winnebago sells large touring vehicles and travel trailers that provide home-like comfort on the road primarily to Americans above the age of 50. Net income rose to $7.7 million, or 27 cents per share, in the third quarter from $3.9 million, or 13 cents per share, a year earlier. Revenue jumped 40 percent to $218.2 million. Analysts on average expected a profit of 27 cents per share on revenue of $197.8 million, according to Thomson Reuters I/B/E/S. Winnebago shares have more than doubled in the past 12 months, widely outperforming the 20 percent rise in the S&P 500 .SPX index. (Reporting by Rohit Tirumala Kumara in Bangalore; Editing by Roshni Menon) Link this Share this Digg this Email Reprints

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