Drew Industries Sets Sales Record for Q2 2013

Drew Industries, Inc. reports sales for Q2 2013 increased to a record $287 million, a 14 percent increase over the same period in 2012, resulting in net income of $15.9 million, not including an after-tax charge of $0.4 million related to executive succession which would have been $16.3 million in income. This represents an increase of 39 percent over the $11.7 million net income for the same period of 2012. The rise in net sales for Q2 was the result of a 16 percent increase in the company’s RV segment, according to a report from sacbee.com. Additionally, sales for July, 2013 rose 13 percent above the comparable period in 2012, again reflecting demand for recreational vehicle (RV) product, although Drew estimates production of manufactured housing industry-wide rose five to ten percent over 2012. As MHProNews knows, through its wholly-owned subsidiaries Kinro Inc. and Lippert Components, Drew provides numerous components for the manufactured housing and recreational vehicle industries.

(Image credit: Drew Industries, Inc.)

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