Fleetwood’s Loss Narrows in Quarter
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Fleetwood Enterprises Inc. posted a narrower quarterly loss, helped by strong sales of recreational vehicles and an improving market for manufactured housing.
The company’s net loss was $17.8 million, or 42 cents a share, in its fiscal fourth quarter ended April 25, compared with $55.4 million, or $1.54, a year earlier. Revenue in the fourth quarter climbed 20% to $689.4 million from $572.7 million, with RV sales up 19% and housing group sales up 21%.
For the year, Fleetwood lost $22.3 million, or 58 cents a share, its fourth straight annual loss. In 2003, it lost $70.7 million, or $1.97 a share.
Fleetwood shares fell 13 cents to $13.53 on the New York Stock Exchange.
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