Drew Industries reports lower quarterly profit
-
- July
- 31
Drew Industries Inc., a supplier of parts for recreational vehicles and manufactured homes, said earnings in the second quarter fell 27 percent to $9.2 million from $12.6 million in the year ago period.
Revenues fell 18 percent to to $151 million, Drew said.
Drew blamed the drop on higher costs for raw materials, lower sales of RVs and nation’s stunted housing market.
“The impact of the current economic environment is more of a challenge than we anticipated just three months ago,†said Leigh J.Abrams, chief executive of the White Plains-based company.
On a per-share basis, Drew said it earned 42 cents a share in the three months ending June 30, compared to 57 cents a share during the same period last year.
This entry was posted
on Thursday, July 31st, 2008 at 4:30 pm by David Schepp.
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