Lippert Components parent company Drew Industries reported consolidated net sales in the third quarter of 2016 increased to $412 million, 19 percent higher than the 2015 third quarter.
Net income was $29.8 million for the third quarter, compared to net income of $17.3 million in the same quarter last year.
The increase in year-over-year net sales reflects industry-wide growth in wholesale shipments of towable RVs by OEMs, which contributed 14 percent of the net sales increase in the third quarter of 2016, enhanced by acquisitions completed by the company over the twelve months ended Sept. 30, which added $13 million in net sales in the third quarter of 2016.
Through continued focus on aftermarket channels for the company’s products, the company increased net sales to the aftermarket in the third quarter of 2016 by more than 21 percent to $36 million.
The company’s content per travel trailer and fifth-wheel RV for the twelve month period ending in September, increased $73 to $3,025, compared to $2,952 in the same 12-month period last year.
The company’s content per motorhome RV for the twelve months ended Sept. 30 increased $150 to $1,957, compared to $1,807 in the 2015 period.
The content increases are a combined result of market share gains, acquisitions, new product introductions and changes in the types of RVs produced industry-wide.