Lippert Components reports net income increase

ELKHART, Ind. — LCI Industries, parent company of Lippert Components Inc., reported an increase in net income in its third quarter as it gained market share in supplying products to the recreational vehicle market.

“We achieved 9 percent sales growth in the third quarter, despite a 12 percent decline in RV wholesale shipments compared to the same quarter of the prior year,” said LCI’s CEO, Jason Lippert. “Our continued sales growth is reflective of our ongoing strategy to diversify our business into adjacent markets, the aftermarket segment and international sales, which now make up 34 percent of our last 12 months sales, up from 28 percent one year ago. October 2018 consolidated net sales are approximately $212 million, up 1 percent from October 2017, despite a slowing of RV OEM (original equipment manufacturer) production levels as they continue to balance dealer inventory levels.”

Read the full story from Goshen News.

Rebecca Smith

Rebecca Smith

Rebecca Smith is a Wisconsin native currently living in Illinois with her husband, Eric, and two dogs, Maggie and Grace. She enjoys hiking, biking, kayaking and, of course, camping in cabins and park models.

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