After accounting for previously announced one-time charges, adjusted net income would have been $19.5 million, or $0.79 earning per share (EPS), $0.20 above what investors were anticipating.
Sales in the RV sector rose 20 percent, six percent of which were attributable to acquisitions over the past year. Operating profits increased 24 percent from the same quarter of 2014.
In addition, the value of Drew’s products that goes into each motorhome RV increased by $208 to $1,810 per vehicle. While revenue for the manufactured home sector rose by only 1.5 percent, profit gained 15 percent, as MHProNews understands.
Meanwhile, CEO Jason Lippert said sales have gotten off to a good start in the new year, as sales for January rose ten percent above the same month of 2015. Drew President Scott Mereness stated weak commodity markets resulted in favorable prices for aluminum and steel, which helped boost profit margins. ##
(Image credit: Drew Industries, Inc.)
