Thursday, February 02, 2006

Fleetwood Enterprises sees weaker 3Q sales

Fleetwood said early results show that motor home sales, which make up the majority of its revenue, fell 23 percent to $179 million. As a result, "third quarter operating results will likely fall somewhat short of those from the second quarter," said Elden L. Smith, president and chief executive, in a statement, adding this should still show "dramatic improvement" over the year-ago period, when the company reported a net loss. He said the company expects that results "will reflect profitable continuing operations."

The company's RV sales grew 5 percent to about $361 million from $343 million a year ago, thanks to a 75 percent jump in the sales of travel trailers, to $167 million. Fleetwood said this was somewhat offset by the loss in motor home sales. Folding trailer sales also fell 5 percent, to $15 million.

Travel trailer sales included about $74 million to the Federal Emergency Management Agency. Shipments to FEMA also increased manufactured housing sales by $57 million, boosting the segment's revenue by 14 percent to about $209 million from last year's $184 million. Full Story...

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