ELKHART — Just day after announcing the purchase of an Italian company, Drew Industries on Monday reported solid 2016 first-quarter financial results that are keeping pace with the RV industry as a whole. 

The company reported a net profit of $36 million for the first quarter, which ended March 31, compared to a profit of $20.1 million for the first quarter of 2015. Consolidated net sales in the first quarter of 2016 increased to $423 million, 17 percent higher than the first quarter of 2015, according to a press release from the company. 

The increase in annual sales reflects industry-wide growth in wholesale shipments of towable RV's, which increased by 11 percent in the first quarter of 2016. The company also increased aftermarket sales in the first quarter of 2016 by more than 40 percent. In April, Drew's consolidated net sales reached approximately $145 million in that segment, 11 percent higher than in April of 2015.

"Our net sales in the first quarter increased at a double-digit year-over-year rate of 17 percent and by over $60 million over the first quarter of 2015," said Jason Lippert, Drew Industries chief executive officer, in a statement. "This growth reflects the current strength of our industry, as well as the continued execution of our plan to drive growth in our primary areas of focus. This includes growth from acquisitions, focusing on the needs of the aftermarket customer, new markets for core products and organic growth from innovative new products, enhancements to existing products and market share gains.“
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