RTTNews | Dec 18, 2020 07:32AM EST

07:31 Friday, December 18, 2020 (RTTNews.com) - Winnebago Industries, Inc. (WGO), a maker of recreational vehicles and marine products, on Friday reported a surge in net income for the first quarter to $57.4 million or $1.70 per share from $14.1 million or $0.44 per share in the year-ago period.

Adjusted earnings for the quarter were$ 1.69 per share, compared to $0.73 per share in the same period last year.

Revenues for the quarter grew 34.8 percent to $793.1 million from $588.5 million in the year-ago period, which included three weeks of Newmar performance.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.98 per share for the quarter on revenues of $752.5 million. Analysts' estimates typically exclude special items.

On December 16, 2020, Winnebago's board of directors approved a quarterly cash dividend of $0.12 per share. The dividend is payable on January 27, 2021, to common stockholders of record at the close of business on January 13, 2021.

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