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Dometic Sales, Earnings Down in Q3

Elkhart, Ind.-based Dometic, which makes appliances for the RV and other industries, reported approximately $500,000 million in sales during the third quarter, about a 3 percent drop from the same period of a year ago.

Dometic’s parent company is in Sweden, and its stocks trade on the Stockholm Stock Exchange.

Net income for the most recent quarter was about $32 million, compared with $42 million of a year ago.

“We experienced a rapid recovery in the third quarter after a difficult and unprecedented second quarter,” said President and CEO Juan Vargues, in a statement accompanying the earnings statement.

“Thanks to a strong growth in orders booked we achieved a record order backlog at the end of the quarter. After a fast and successful reduction of our cost base in the second quarter, customer demand increased sharply in June and July resulting in certain constraints in our supply chain and a subsequent effect on net sales,” Vargues said.” Additionally, pro-active measures to contain COVID-19 cases in some of our American factories impacted net sales negatively. We will continue to increase capacity to meet the strong demand we foresee in the coming quarters.”

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