Fleetwood Enterprises Inc.’s RV-related operating earnings nearly tripled during its fourth fiscal quarter and the company’s RV-related operating earnings increased by 64% for the full year, both of which ended on April 25.
The New York Stock Exchange-listed company reported $16.5 million in RV-related operating earnings for the quarter, compared with almost $6 million in the same period a year earlier.
For the full fiscal year, Fleetwood’s RV-related operating earnings amounted to $58.1 million, compared with $35.4 million the previous year.
Fleetwood’s total RV sales revenue increased 19% during the February-through-April period to $482.7 million and its total RV sales for the 12 months ended April 25 increased 20% to $1.78 billion.
The company reported a net loss, however, for the fourth quarter in part because its manufactured housing business continued to lose money. Its manufactured home building and manufactured home dealerships reported a combined operating loss of $10.4 million during the three months ended April 25, although that represents an improvement over the $33 million operating loss those business posted during the same period a year earlier.
During the 12 months ended April 25, Fleetwood’s manufactured housing-related business recorded an operating loss totaling $28.8 million. That was an improvement over a $57.6 million loss in 2003.
Fleetwood’s manufactured home-related sales revenue, excluding revenue from the sale of units to Fleetwood-owned dealerships, increased 21% during the fourth quarter to $191.6 million.
For the entire year, however, the company ’s manufactured home-related sales revenue declined 2% to $782.8 million.
Fleetwood officials announced last week they believed the manufactured housing industry was far enough down to road to recovery to justify the reopening of a factory in Alma, Ga.