Drew Drew a Good Hand in Q1

In its report of earnings for first quarter 2012, Drew Industries, Inc.’s manufactured housing division registered $3.1 million operating profit on sales of $28 million first quarter 2012, versus profit of $2.2 million on sales of $23 million for the same period 2011. The company marked an MH sales increase of 26 percent in the first quarter 2012 over the same period last year. Sales of aftermarket MH products increased 20 percent for the same quarter over quarter, as its MH division gained market share. MarketWatch says overall sales increased to $224 million in Q1 2012 (a record for this company in any quarter) over $169 million for the same period 2011. The RV division accounted for 87% of overall net sales. Consolidated net income of $11.1 million for 2012 bested 2011’s income of $9.4 million. Drew supplies the MH, RV, and industrial markets with components. MHProNews has written recently about the RV industry growth in Elkhart County, Indiana.

((Image credit: Drew Industries, Inc.)

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