Fleetwood Enterprises Inc. reported a 12% gain in recreational vehicle sales during the Riverside, Calif., company’s fiscal fourth quarter, offsetting a 19% decline in manufactured housing revenues.
In its preliminary report, Fleetwood said sales during the three-month period, ended April 30, rose 7% to $597 million from $560 million a year ago.
For the fiscal year, sales increased 2% to $2.43 billion compared with $2.37 billion last year, with recreational vehicles down 3% and manufactured housing up 1%.
Fleetwood said fourth-quarter RV revenues increased to $426 million from the prior year’s $381 million, due to significant increases in both travel trailers and folding camping trailers.
Travel trailer sales during the quarter increased by 35% to $157 million, which included sales of $34 million in units for the Federal Emergency Management Agency (FEMA). Folding trailer revenues were up 18% to $23 million while motorhome sales were flat at $246 million.
For the full fiscal year, sales of recreational vehicles totaled $1.61 billion, down 3% from $1.66 billion in the prior year. Motorhome sales declined 11% to $973 million, travel trailer sales were up 15% to $550 million and folding trailers were off 1% at $84 million.
For the fiscal year, the travel trailer division sold approximately $136 million of FEMA units.
“The beginning of the spring selling season has been soft for the motorhome industry due to consumer and dealer concerns about fuel costs and rising interest rates,” said Elden Smith, Fleetwood’s president and CEO. “In light of that and the fact that last year’s sales were made in an industry environment of heavy discounting, we view flat motorhome revenues as a positive.
“We are also encouraged by the gains in our towable divisions. This is the second consecutive quarter of improved sales for the travel trailer division, even without the boost of the FEMA business, and our backlogs remain strong going into the first quarter of fiscal 2007. This is also the first quarter of year-over-year improvement in folding trailers since the fourth quarter of fiscal 2004, which may be an indication that the extended negative trend in that industry niche has reversed.”