Lower Demand Widens Fleetwood Loss
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Fleetwood Enterprises Inc., a giant manufactured housing and recreational vehicle maker, said Wednesday that its fiscal fourth-quarter loss widened to $55.4 million on lower demand for the homes.
The net loss increased to $1.54 cents a share in the quarter ended April 27, from $40.5 million, or $1.15 a share, a year earlier, the Riverside-based company said. Sales, which also include motor homes and travel trailers, fell 5.1% to $572.7 million.
Fleetwood shares were unchanged at $9.72 in New York Stock Exchange trading.
For the fiscal year, Fleetwood said its net loss narrowed to $70.7 million, or $1.97 a share, from $161.9 million, or $3.90, for the previous year. Sales rose 1.7% to $2.32 billion.
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