Winnebago posts 40% decline in Q3 revenue, falls short of Street
Winnebago Industries, Inc. (NYSE:WGO) this morning reported fiscal 2008 third-quarter revenues that declined 40% from the third quarter last year and fell below the consensus on Wall Street. The manufacturer of motor homes said the quarter was negatively impacted by lower motor home deliveries resulting in a significant reduction in production and very low absorption of fixed costs. The Forest City, IA.-based firm also cited a decline in the average selling price of its motor homes due to a higher mix of lower priced class C motor home deliveries.
Shares were halted in pre-market trading. For detailed price information and recent news stories about Winnebago Industries, click WGO.
