Winnebago Industries has announced that revenues for the Fiscal 2018 fourth quarter ended August 25, 2018, were $536.2 million, an increase of 17.9% compared to $454.9 million for the Fiscal 2017 period. Gross profit was $83.8 million, an increase of 13.9% compared to $73.6 million for the Fiscal 2017 period.
Operating income was $45.7 million for the quarter, an improvement of 5.1% compared to $43.5 million in the fourth quarter of last year. Fiscal 2018 fourth quarter net income was $29.8 million, an increase of 19.5% compared to $24.9 million in the same period last year.
Earnings per diluted share were $0.94, an increase of 19.0% compared to earnings per diluted share of $0.79 in the same period last year. Consolidated Adjusted EBITDA was $53.6 million for the quarter, compared to $47.8 million last year, an increase of 12.1%.
Fourth quarter results include costs related to the Chris-Craft acquisition of $2.8 million or $0.06 per diluted share. President and Chief Executive Officer Michael Happe said that the acquisition has made great strides.
Happe was pleased with revenue results in other areas.
Fiscal 2018 revenues exceeded $2 billion increased 30.4% from $1.5 billion in fiscal 2017. According to officials, this was primarily due to the strong growth in towables and improved operating efficiencies in that area. The company saw a 28% improvement in operating income for the fiscal year. In that same year earnings per diluted share rose to $3.22, an increase of 38.8%.
President and Chief Executive Officer Michael Happe stated, ” Financially, we are thrilled to exceed the $2 billion reveue mark for the first time in our company’s storied 60 year history.”