http://www.morningstar.com/earnings/50309207-winnebago-industries-wgo-q2-2013.aspx

Winnebago Industries WGO
Q2 2013 Earnings Call Transcript

Transcript Call Date 03/28/2013

Operator: Good day ladies and gentlemen, and welcome to the Second Quarter 2013 Winnebago Earnings Conference Call. My name is Gavril, and I will be your operator for today. At this time, all participants are in listen-only mode. Later, we will facilitate a question-and-answer session.

I would now like to turn the conference over to your host for today, Ms. Sheila Davis, PR and IR Manager, for Winnebago Industries. Please proceed.

Sheila Davis - IR: Thank you. Good morning, and welcome to Winnebago Industries' conference call to review the Company's results for the second quarter of fiscal 2013, ended March 2, 2013. Conducting the call today are Randy Potts, Chairman of the Board, Chief Executive Officer, and President; and Sarah Nielsen, Vice President, Chief Financial Officer.

I trust each of you have received a copy of the news release with our earnings results this morning. This call is being broadcast live on our website at winnebagoind.com. A replay of the call will be available on our website at approximately 11 o'clock Central Time today. If you have any questions about accessing any of this information, please call our Investor Relations department at 641-585-6803 following the conference call.

Before we start, it's my duty to inform you this presentation may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain. A number of factors could cause actual results to differ materially from these statements. These factors are identified in our filings with the Securities and Exchange Commission over the last 12 months, copies of which are available from the SEC or from the Company upon request.

I'll now turn the call over to Randy Potts. Randy?

Randy J. Potts - Chairman, CEO and President: Thank you Sheila. And good morning to everybody joining our conference call today. Sarah will provide the financial details in a moment, but first I'll make a few comments about our second quarter of fiscal 2013.

Simply put we had a great quarter. We had positive comparisons against our performance a year ago in nearly every aspect of our business. Our motorhome products are in demand. When compared to last year, wholesale motorhome shipments to dealers grew 42% during the quarter and 45% for the first six months. We have reason for even more optimism going forward. Our motorized sales order backlog has grown in the last five consecutive quarters. At the end of the second quarter, it had grown in every motorized category and was up a 174% year-over-year and 30% sequentially from the first quarter.

Our motorhome products are also in demand at the retail level, not only are industry retail volumes increasing, but Winnebago Industries is outpacing the industry. Retail sales for Winnebago Industries motorhomes increased 17% in the U.S. and Canada during calendar 2012 compared to the industry's increase of 7% for the same period in North America. Good traffic and retail sales have been reported during the RV show season held since the beginning of the year.

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