Winnebago reports $8 million loss - KWWL - Eastern Iowa Breaking News, Weather, Closings

Winnebago reports $8 million loss


FORREST CITY (KWWL)-- Recreation-vehicle maker Winnebago Industries lost $8.6 million in its fiscal third quarter, ending May 30. Last year during that same quarter, the Iowa-based company earned $3 million.

In February, salaries and hours were cut in an effort to cut expenses and save jobs. Most salaried employees took a 3 percent cut at the beginning of March. The company enstated a week of unpaid leave June 29 through July 3.

The latest quarter revealed a revenue plunge of 64 percent to $50.8 million.

The motor-home industry has been battered by the economic downturn, as strapped consumers with weakened access to credit shun RV purchases. Winnebago says industry wide sales fell 77 percent during the first two months of the fiscal third quarter.

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