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Winnebago Industries (NYSE: WGO) Snapshot

Updated September 3, 2011
 

Company Profile

Winnebago Industries, Inc., headquartered in Forest City, Iowa, is a leading United States (U.S.) manufacturer of recreation vehicles (RVs), which are used primarily in leisure travel and outdoor recreation activities. The Company builds quality motor homes, travel trailers and fifth wheel products under the Winnebago®, Itasca®, ERA™ and SunnyBrook® brand names. The Company markets its recreation vehicles on a wholesale basis to a diversified dealer organization located throughout the U.S., and Canada. As of August 29, 2010, the motor home and towable dealer organization in the U.S. and Canada included approximately 230 and 179 dealer locations respectively. Other products manufactured by the Company consist primarily of original equipment manufacturing (OEM) parts, including extruded aluminum and other component products for other manufacturers and commercial vehicles.


Winnebago Industries was incorporated under the laws of the state of Iowa on February 12, 1958, and adopted its present name on February 28, 1961.

Source: Winnebago Industries

 

Consolidated Charts

 

Consolidated Statements
WGO Income Statement Quarter Ending  
  Q4-07 Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11  
  Aug-07 Nov-07 Feb-08 May-08 Aug-08 Nov-08 Feb-09 May-09 Aug-09 Nov-09 Feb-10 May-10 Aug-10 Nov-10 Feb-11 May-11 ttm
Revenue     237,681    215,142    164,203    139,736      85,271      69,398      31,808      50,848      59,465      81,017    110,529    134,813    123,125    123,711    106,593    135,568    488,997
Cost of Goods Sold    205,089    189,502    152,034    137,112      90,932      78,292      43,600      59,133      61,240      80,493    105,745    125,058    111,921    112,512      95,269    126,865    446,567
Gross Margin      32,592      25,640      12,169        2,624       (5,661)       (8,894)     (11,792)       (8,285)       (1,775)           524        4,784        9,755      11,204      11,199      11,324        8,703      42,430
As a % of Sales 13.7% 11.9% 7.4% 1.9% -6.6% -12.8% -37.1% -16.3% -3.0% 0.6% 4.3% 7.2% 9.1% 9.1% 10.6% 6.4% 8.7%
                                   
Operating Expenses                                  
R&D                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -
SG&A      11,865      12,056        9,715        9,527        8,543        7,996        6,819        6,497        6,602        6,501        6,642        6,351        6,253        6,918        7,274        7,560      28,005
Non Recurring                 -                -                -                -        4,686                -                -                -           855                -                -                -                -                -                -                -                -
Other                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -
Operating Expenses       11,865      12,056        9,715        9,527      13,229        7,996        6,819        6,497        7,457        6,501        6,642        6,351        6,253        6,918        7,274        7,560      28,005
As a % of Sales 5.0% 5.6% 5.9% 6.8% 15.5% 11.5% 21.4% 12.8% 12.5% 8.0% 6.0% 4.7% 5.1% 5.6% 6.8% 5.6% 5.7%
                                   
Operating Income      20,727      13,584        2,454       (6,903)     (18,890)     (16,890)     (18,611)     (14,782)       (9,232)       (5,977)       (1,858)        3,404        4,951        4,281        4,050        1,143      14,425
As a % of Sales 8.7% 6.3% 1.5% -4.9% -22.2% -24.3% -58.5% -29.1% -15.5% -7.4% -1.7% 2.5% 4.0% 3.5% 3.8% 0.8% 2.9%
  ssssss                                
Income from Continuing Operations                                  
Total Other Income/Expenses Net         1,559        1,240        1,236        1,053           785           524           633           209             86          (233)           364           158            (67)           796           322          (529)           522
Earnings Before Interest And Taxes       22,286      14,824        3,690       (5,850)     (18,105)     (16,366)     (17,978)     (14,573)       (9,146)       (6,210)       (1,494)        3,562        4,884        5,077        4,372           614      14,947
Interest Expense                 -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -
Income Before Tax       22,286      14,824        3,690       (5,850)     (18,105)     (16,366)     (17,978)     (14,573)       (9,146)       (6,210)       (1,494)        3,562        4,884        5,077        4,372           614      14,947
Income Tax Expense         7,443        4,862        1,173       (8,850)       (5,410)       (6,770)       (7,597)       (6,020)      41,090       (4,866)       (2,200)       (2,430)              (9)        1,291        1,057          (581)        1,758
Minority Interest                 -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -
Net Income From Continuing Ops       14,843        9,962        2,517        3,000     (12,695)       (9,596)     (10,381)       (8,553)     (50,236)       (1,344)           706        5,992        4,893        3,786        3,315        1,195      13,189
                                   
Non-recurring Events                                  
Discontinued Operations                 -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -
Extraordinary Items                 -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -
Effect Of Accounting Changes                 -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -
Other Items                 -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -
Net Income       14,843        9,962        2,517        3,000     (12,695)       (9,596)     (10,381)       (8,553)     (50,236)       (1,344)           706        5,992        4,893        3,786        3,315        1,195      13,189
Preferred Stock And Other Adjustments                 -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -                -
Net Income Applicable To Common Shares       14,843        9,962        2,517        3,000     (12,695)       (9,596)     (10,381)       (8,553)     (50,236)       (1,344)           706        5,992        4,893        3,786        3,315        1,195      13,189
As a % of Sales 6.2% 4.6% 1.5% 2.1% -14.9% -13.8% -32.6% -16.8% -84.5% -1.7% 0.6% 4.4% 4.0% 3.1% 3.1% 0.9% 2.7%
                                   
EBITDA      24,839      17,537        6,156       (3,446)     (15,781)     (14,229)     (15,969)     (12,704)       (7,327)       (4,526)           118        5,116        6,374        6,507        5,787        1,962      20,630
As a % of Sales 10.5% 8.2% 3.7% -2.5% -18.5% -20.5% -50.2% -25.0% -12.3% -5.6% 0.1% 3.8% 5.2% 5.3% 5.4% 1.4% 4.2%
                                   
WGO Balance Sheet Quarter Ending  
  Aug-07 Nov-07 Feb-08 May-08 Aug-08 Nov-08 Feb-09 May-09 Aug-09 Nov-09 Feb-10 May-10 Aug-10 Nov-10 Feb-11 May-11 ttm
Current Assets                                  
Cash And Cash Equivalents         6,889        4,836      15,536      46,200      17,851      28,765                -        6,889      17,851      36,566      41,609      76,296      74,691      81,165      62,787      65,230      65,230
Short Term Investments     102,650      89,347  -                   -        3,100        5,400                -    102,650        3,100      13,500        9,000        1,150                -        5,250                -           250           250
Net Receivables       42,972      30,430      47,597      26,425      27,619      25,738      37,419      42,972      27,619      29,073      20,903      11,253      18,930      16,640      21,002      17,788      17,788
Inventory     101,208    120,117    128,477    110,960    110,596      83,294      72,778    101,208    110,596      46,850      59,824      39,134      43,526      45,173      71,655      76,346      76,346
Other Current Assets  ssssssssssss
       3,981
       4,030        3,870        3,257        3,715        3,774        3,596        3,981        3,715        3,425        2,844        3,898        4,570        4,597        4,828        4,298        4,298
Total Current Assets     257,700    248,760    195,480    186,842    162,881    146,971    113,793    257,700    162,881    129,414    134,180    131,731    141,717    152,825    160,272    163,912    163,912
  ssssssssssss