Winnebago sees falling sales, says turnaround near
FOREST CITY (AP)--Forest City-based Winnebago Industries Inc. says its fourth-quarter loss widened as the nation's top motor home maker struggled with falling deliveries and promotional pricing and that customers are still having a hard time getting financing.
But the company Thursday reported dealer inventories are very close to reaching bottom and it expects dealers will soon need to start replenishing stock. Winnebago says its sales order backlog climbed 58 percent during the quarter, suggesting a recovery may be beginning. That news sent the company's shares up $1.96, or 13.7 percent, to $16.32 in morning trading.
The company says it lost $50.2 million, or $1.73 per share, compared with a loss of $12.7 million, or 44 cents per share, in the same quarter last year.
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