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Fleetwood Enterprises Inc. reported today (Oct. 30) that its RV sales revenue increased 14% in the second quarter of its fiscal year 2004, which ended Sunday (Oct. 26).
The Riverside, Calif., company’s motorhome sales increased 13% in the August-through-October period and its travel trailer/fifth-wheel sales climbed 24%.
However, Fleetwood’s folding-camper sales revenue fell 17% in the second quarter, which approximates the 16.5% decline in retail sales of folding campers that occurred in the first eight months of this year, according to Statistical Surveys Inc., an independent market research firm.
Fleetwood’s total RV sales revenue amounted to $450 million in the three months that ended on Sunday, compared with $396 million a year earlier.
The company’s motorhome sales totaled $273 million and its travel-trailer/fifth-wheel sales amounted to $145 million in the second quarter.
The New York Stock Exchange-listed company’s folding-camper sales totaled to $32 million during the August-through-October period.
Fleetwood will report a profit for the second quarter in about five weeks, added Ed Caudill, president and CEO.
“Fleetwood’s recent market share increases in Class A diesel motorhomes and fifth-wheels, combined with excellent RV market conditions, fueled our improved revenues,” Caudill said. “We are currently raising our daily production rates to meet increased demand for our diesel products.”
Meanwhile, Fleetwood’s total sales, including manufactured housing, increased 5% because the RV group’s increases were partially offset by a 9% decline in manufactured housing revenues to $212 million in the August-through-October period.
“Despite this 40-year low point in (manufactured housing) industry shipment levels, we anticipate that our manufacturing operations will continue to be profitable,” Caudill said.
Fleetwood sold $142 million worth of manufactured homes to independent retailers in the three months that ended Sunday, and Fleetwood-owned manufactured housing dealers sold $70 million worth of product in the period.
A year earlier, Fleetwood sold $164 million worth of manufactured homes to independent dealers and company-owned dealers sold $70 million worth of product.
Now that Fleetwood has established its own manufactured home retail lending operation, Caudill said the company’s manufactured housing sales have stabilized.