Friday, July 14, 2006

Fleetwood Reports Fiscal 2006 Fourth Quarter and Full Year Financial Results

RIVERSIDE, Calif., July 13 /PRNewswire-FirstCall/ -- Fleetwood Enterprises, Inc. FLE announced today financial results for the fiscal 2006 fourth quarter and full year ended April 30, 2006.

Consolidated Results

Consolidated revenues from continuing operations for the fourth quarter of fiscal 2006 improved 8 percent to $602.6 million from $560.2 million in the prior year's fourth quarter. The Company generated income from continuing operations of $2.8 million, or $0.04 per diluted share, versus incurring a loss from continuing operations of $55.8 million, or $1.00 per diluted share, in the fourth quarter of the prior year. Net income for the quarter, which included results from discontinued operations, was $1.7 million, or $0.03 per diluted share, compared to a net loss of $120.5 million, or $2.16 per diluted share, in the fourth quarter of the prior year.

For fiscal year 2006, consolidated revenues from continuing operations increased 2 percent to $2.43 billion from $2.37 billion in the prior year. Fleetwood's loss from continuing operations narrowed sharply to $6.1 million, or $0.10 per diluted share, from $72.6 million, or $1.31 per diluted share, in fiscal 2005. The net loss for fiscal 2006 also was reduced significantly to $28.4 million, or $0.48 per diluted share, from a net loss of $161.5 million, or $2.92 per diluted share, in the prior year. Full Story...

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