Dura Automotive Systems Inc., parent of RV industry supplier firm Atwood Mobile Products, warned Wall Street today (Jan. 22) that its fourth quarter earnings would be well below market analysts’ expectations.
The Nasdaq Stock Market listed company believes its fourth quarter earnings will range from 15 to 20 cents a share. Wall Street had estimated Dura would earn 68 to 85 cents a share during the fourth quarter.
Dura announced during November that it would close an RV components plant in Elkhart, Ind., due to weak demand. The plant in Elkhart produced doors and window systems for bus-profile Class A motorhomes. The factory in Elkhart will be shutdown by March 31.
Dura also plans to close auto industry supplier plants in Michigan and the United Kingdom to reduce costs and improve cash flow.