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Fleetwood Enterprises Inc. reports its motorhome sales revenue increased 46% during the three months ended Sunday (April 28) and it recaptured the retail market share leadership position in the Class A motorhome category for January and February.
Monaco Coach Corp. passed Fleetwood last year to claim the retail market share leadership position in Class A’s for the full year 2001, according to Statistical Surveys Inc. data.
But Fleetwood’s total RV sales revenue climbed 28% higher during the February-through-April period to $369 million, primarily due to the 46% increase in motorhome sales to $226 million.
Meanwhile, during Fleetwood’s fourth fiscal quarter, which ended April 28, its travel trailer and fifth-wheel sales revenue increased 4% to $109 million and its folding camper sales revenue climbed 16% higher to $34 million.
For its fiscal year 2002, which ended on April 28, Fleetwood’s RV sales totaled $1.21 billion, approximately equaling its fiscal year 2001 total. The company’s motorhome revenue increased 12% during its fiscal year 2002 to $715 million while its travel trailer and fifth-wheel sales declined 17% to $377 million. Fleetwood’s folding camper sales were up 1% to $118 million during the 12 months ended April 28.
“Our intense product development efforts in motorhomes have begun to produce clear gains,” said David Engelman, interim president and CEO. “Similar efforts in travel trailers are now producing revenue improvements in that division as well.”
However, Fleetwood also is a major manufactured housing producer, and Engelman said that industry “continues to face a difficult environment, which we expect to continue at least through calendar 2002.”
Due to the difficult manufactured housing industry environment and losses at its travel trailer/fifth-wheel manufacturing operations, Fleetwood, most likely, will report a loss for its fourth fiscal quarter and its fiscal year 2002, Engelman said.
Fleetwood, a New York Stock Exchange-listed company, will issue its complete fourth fiscal quarter and fiscal year 2002 financial report in June, Engelman said.
Additionally, because of new accounting rules, Fleetwood anticipates having to take an $80 million non-cash charge to reflect the impaired goodwill related to its manufactured home dealership locations, Engelman added.