White Plains-based Drew sees higher profits
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- February
- 13
Reduced expenses helped Drew Industries Inc. of White Plains squeeze more profits out of flat sales in the fourth quarter, the company said yesterday.
A supplier of components for recreational vehicles and manufactured housing, Drew said it had net income of $6.48 million, or 29 cents a share, on net sales of $137.8 million. For the comparable quarter a year earlier, it had net income of $3.65 million, or 17 cents a share, on net sales of $138.1 million.
Drew had lower cost of sales and interest expenses. A cost-reduction program last year eliminated more than 120 salaried workers, closed 18 factories, and consolidated those operations with other factories.
For 2007, it had net income of $39.8 million, or $1.80 a share, on net sales of $668.6 million. For 2006, it had net income of $31 million, or $1.42 a share, on net sales of $729.2 million.
The company said it couldn’t predict how the national economic slowdown would affect sales in 2008. January sales were off 4 percent year over year.
This entry was posted
on Wednesday, February 13th, 2008 at 5:47 pm by Jerry Gleeson.
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