Goshen News, Goshen, IN

Business

November 2, 2013

Drew Industries has earnings gain

ELKHART — Drew Industries Inc. a supplier of components for recreational vehicles and manufactured homes, reported Friday sales and income gains for its third quarter.

The company said net income was $14.8 million, or $0.62 per diluted share, for the third quarter ended Sept. 30. The amount was an increase of 52 percent compared to net income of $9.8 million, or $0.43 per diluted share, in the third quarter of 2012.

Net sales in the third quarter increased to $251 million, 11 percent higher than the 2012 third quarter. According to the company, the sales growth was primarily the result of a 12 percent sales increase by Drew’s RV segment, which accounted for 87 percent of consolidated net sales in the quarter. RV segment sales growth was primarily due to an 8 percent increase in industry-wide wholesale shipments of travel trailer and fifth-wheel RVs, Drew’s primary RV market. In addition, sales of recently introduced components for towable and motorhome RVs increased, as did sales to adjacent industries and the aftermarket.

The company said its content per motorhome RV and travel trailer and fifth-wheel RV for the 12 months ended in September increased 4 percent to $1,137 per unit and 2 percent to $2,719 per unit, respectively, from the same period a year earlier as a result of recent product introductions, product improvements and market share gains.

“Our company-wide focus on our customers as our first priority has enabled us to gain market share and increase sales,” said Jason Lippert, Drew’s chief executive officer. “In addition, we have been successful by staying ahead of the market through innovation. 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.”

Drew’s growth continued in October, according to the company. Net sales reached approximately $95 million in October, nearly 12 percent higher than in October 2012. Drew attributed the increase to the continued growth in the company’s RV segment. Drew estimates that industry-wide wholesale shipments of travel trailer and fifth-wheel RVs increased 8 percent to 10 percent in October 2013 compared to October 2012. Drew also estimates that October 2013 industry-wide production of manufactured homes increased approximately 5 percent compared to October 2012.

1
Text Only
Business
  • Jayco's growth means more jobs MIDDLEBURY — Business is booming for the local RV manufacturer Jayco Inc. So much so that Jayco representatives this week announced that the company’s Motorhome Group plans on expanding manufacturing facilities at its Middlebury-based headquarters wi

    August 22, 2014

  • GN140820 dometic groundbreaking Dometic breaks ground on significant expansion in Goshen GOSHEN — As Dometic officials gathered for a groundbreaking ceremony for the $7 million expansion of their Goshen distribution center Wednesday, the work was already underway in the background. “It’s happening right now,” said Dave Schutz, vice presi

    August 20, 2014 1 Photo

  • Three Wheeled Commuter Car [Duplicate] Three-wheeled car closer to going on sale ROYAL OAK, Mich. — Your next commuter car could have two seats, three wheels and get 84 miles to the gallon. Elio Motors wants to revolutionize U.S. roads with its tiny car, which is the same length as a Honda Fit but half the weight. With a starting

    August 15, 2014 6 Photos

  • White Collar Sentencing [Duplicate] Lighter sentences sought for some business crimes WASHINGTON — The federal panel that sets sentencing policy eased penalties this year for potentially tens of thousands of nonviolent drug offenders. Now, defense lawyers and prisoner advocates are pushing for similar treatment for a different categor

    August 14, 2014 1 Photo

  • Amazon Mobile Payments [Duplicate] Amazon joins mobile payment market NEW YORK — Amazon is taking direct aim at mobile payment systems such as Square by introducing the Amazon Local Register, a credit-card processing device and mobile app designed to help small business owners accept payments through their smartphones

    August 13, 2014 1 Photo

  • BIZ GN140809 gm recall image GM recalls three vehicles for fire hazard General Motors' troubles with safety recalls has surfaced in another case, this time with the company recalling a group of SUVs for a third time to fix power window switches that can catch fire. The problem, revealed in documents posted by federal sa

    August 8, 2014 1 Photo

  • BIZ GN0808 Supershow 02 Annual RV show opens in Elkhart ELKHART— Carole and Ray Bronicki have owned four recreational vehicles during the past 25 years. Thursday they were looking for their fifth.“We sold the one we had in Texas, Ray said as he stood outside a fifth-wheel at the Midwest RV Super Show. “An

    August 7, 2014 2 Photos

  • Thor has good year ELKHART — Thor Industries Inc. has had a good year.The recreational vehicle manufacturer announced Monday its fiscal year ended in July with sales from continuing operations up 9 percent at $3.53 billion. Sales in the prior year were $3.24 billion.To

    August 6, 2014

  • Wealth Gap US Economy [Duplicate] S&P says wealth gap slows economic growth WASHINGTON — Economists have long argued that a rising wealth gap has complicated the U.S. rebound from the Great Recession. Now, an analysis by the rating agency Standard & Poor’s lends its weight to the argument: The widening gap between the wealth

    August 5, 2014 3 Photos

  • Briefly BRISTOLHiring event set for Wednesday in BristolWorkOne and auto-parts manufacturer Chassix are hosting a hiring event Wednesday.Employees are needed for more than 100 machine operator jobs and related positions.The hiring event will take place from

    August 3, 2014

Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
AP Video
Furry Roommates: Dorms Allowing Cats and Dogs Chase Rice Defends Bro-Country 'Jersey Shore Massacre' Pokes Fun at MTV Series Raw: Wash. Mudslides Close Roads, Trap Motorists DC's Godfather of Go-Go Honored Ukraine Calls Russian Convoy a 'direct Invasion' Girl Meets Her 'one in the World' Match Coal Gas Boom in China Holds Climate Risks Japan Landslide Rescuers Struggle in Heavy Rain Raw: Severe Floods, Fire Wrecks Indiana Homes Endangered Red Wolves Face Uncertain Future Raw: Russian Aid Convoy Arrives in Ukraine Okla. Policeman Accused of Sex Assaults on Duty Dominican Republic Bans Miley Cyrus Concert Raw: Israeli Air Strike in Gaza Raw: Bodies of MH17 Victims Arrive in Malaysia Attorney: Utah Eatery Had Other Chemical Burn
Poll

Three Goshen elementary schools — Chandler, Chamberlain and West Goshen — are providing free meals to all students during the school year as part of the U.S. Department of Agriculture’s Community Eligibility Provision of the Healthy Hunger-Free Kids Act of 2010. Nearly 80 percent of students at Chandler, 89 percent of students at Chamberlain and 78 percent of students at West Goshen already qualify for free or reduced-price lunches based on their family income. How do you feel about the new lunch program?

I think it’s a good idea to feed all the students free of charge
I think those who can afford it should pay for their school meals
I think all students should be required to pay for their school meals
     View Results