Drew Posts Gains for Third Quarter 2013

Drew Industries, Inc. (NYSE:DW) reports net income of $14.8 million for Q3 2013, or $0.62 per share, compared to $9.8 million in net income for the same period of 2012, an increase of52 percent. Net sales in the third quarter 2013 hit $251 million, 11 percent higher than the comparable period last year for the Elkhart, Indiana-based company. The sales growth Drew attributes to a 12 percent increase in the RV segment, which accounted for 87 percent of net consolidated sales. According to 4-traders.com, retail demand for travel trailer and fifth-wheel RVs rose 12 percent in the first eight months of this year as opposed to eight years for all of 2012. As MHProNews knows, through its subsidiaries, Lippert Components, Inc. and Kinro, Inc., Drew is a major supplier of components to the manufactured home and recreational vehicle markets. CEO Jason Lippert says, “Our Company-wide focus on our customers as our first priority has enabled us to gain market share and increase sales. We continue to invest in customer service and research and development resources to maintain our position as a leading supplier to the industries we serve.”

(Image credit: Drew Industries, Inc.)

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