1998 Annual Report

Consolidated Statements of Earnings


Year Ended

(dollars in thousands, except per share data)

August 29, 1998

August 30, 1997

August 31, 1996

Continuing operations

Revenues

Manufactured products

$ 523,018

$ 436,712

$ 483,398

Dealer financing

2,076

1,420

1,406

Total net revenues

525,094

438,132

484,804

Costs and expenses

Cost of manufactured products

450,934

385,540

417,231

Selling and delivery

21,197

27,131

25,290

General and administrative

19,986

20,313

21,574

Total costs and expenses

492,117

432,984

464,095

Operating income

32,977

5,148

20,709

Financial income

2,950

1,844

354

Income from continuing operations before income taxes

35,927

6,992

21,063

Provision for taxes

11,543

416

6,639

Income from continuing operations

24,384

6,576

14,424

Discontinued operations

Income from operations of discontinued Cycle-Sat subsidiary (net of applicable income tax provision of $261)

 

---

 

---

 

593

Gain on sale of Cycle-Sat subsidiary (net of applicable income tax provision of $13,339)

---

16,472

---

Loss from the disposal of discontinued operations (net of applicable income tax credit of $1,157)

---

---

(2,632)

Net income

$ 24,384

$ 23,048

$ 12,385

Earnings (loss) per share:

Continuing operations:

Basic

$ 1.01

$ .26

$ .57

Diluted

1.00

.26

.57

Discontinued operations:

Basic

---

.65

(.08)

Diluted

---

.64

(.08)

Net earnings per share:

Basic

$ 1.01

$ .91

$ .49

Diluted

1.00

.90

.49

Weighted average common shares outstanding (in thousands):

Basic

24,106

25,435

25,349

Diluted

24,314

25,550

25,524

See notes to consolidated financial statements.

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Copyright © 1998 Winnebago Industries, Inc.
Last modified: May 19, 2006