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| Drew Industries reports record sales and profits Drew Industries Incorporated announced a 34 percent increase in net income on a 26 percent increase in net sales for the year ended December 31, 2005. Drew, a leading supplier of components for recreational vehicles and manufactured housing, reported that net sales reached a record $669 million in 2005, up $138 million from the $531 million reported in 2004. Net income increased to $33.6 million, or $1.56 per diluted share, in 2005, compared to $25.1 million, or $1.18 per diluted share, in the prior year. This is the fourth consecutive year that Drew has achieved record net sales and net income. Fourth quarter net income and net sales also reached record levels, with net income more than doubling to $9.3 million in the current fourth quarter, compared to $3.5 million in the fourth quarter of 2004. Net sales for the quarter reached a record $181 million, up 37 percent from the $132 million reported in last year's fourth quarter, driven by growth in both Drew's segments. Drew's sales during January 2006 increased approximately 35 percent compared to January 2005, and February sales have started out strong, partly due to the continuing impact of FEMA-related orders. write your comments about the article :: © 2006 Construction News :: home page |