Winnebago Industries Inc. (NYSE: WGO) reported Tuesday that the company returned to a fiscal second-quarter profit, citing that revenue more than tripled due to a rise in motor home deliveries, according to Associated Press.
Winnebago earned $706,000, or 2 cents per share, for the period that ended Feb. 27, compared to a loss of $10.4 million, or 36 cents per share, a year earlier. The latest quarter's results included $2.2 million in tax benefits.
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The performance topped the expectations of analysts surveyed by Thomson Reuters, who forecast a loss of 9 cents per share.
Revenue jumped to $110.5 million, compared to $31.8 million.
Winnebago also filed a registration statement with the Securities and Exchange Commission to sell up to $35 million in common stock in one or more offerings as a way to achieve more financial flexibility.
The company's shares fell $1, or 6.9 percent, to $13.55 in afternoon trading. They have traded in a 52-week range of $4.51 to $16.44.
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