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Fleetwood Enterprises Inc.’s RV Group saw its operating profit increase 51% during the first nine months of its fiscal year 2004 to $40.9 million, compared with $27.1 million in the same period a year earlier, the New York Stock Exchange-listed company reported today (March 4).
Perhaps the best indicator of the improvement at Fleetwood’s RV Group is the fact that during its third fiscal quarter, the seasonally slow November-through-January period, the RV Group posted an operating profit of $9.5 million, compared with an operating loss of $7.6 million incurred during the same period a year earlier.
In addition to begin profitable during the three-month period that ended Jan. 25, Fleetwood’s total RV sales increased 32% to $410.0 million, compared with $310.5 million a year earlier.
Its motorhome sales revenue increased 28% during the November-through-January period to $272 million, the motorhome division’s best third fiscal quarter since 1985, said Ed Caudill, Fleetwood’s president and CEO.
Meanwhile, Fleetwood’s travel trailer/fifth-wheel sales revenue jumped 61% higher during the three months ended Jan. 25 to $115 million, although the company’s folding camper revenue declined 13% to $23 million.
During the nine months ended Jan. 25, Fleetwood’s total RV revenue increased 20% to $1.30 billion, compared with $1.08 billion a year earlier. Its motorhome sales revenue also increased 20% during the nine-month period to $803 million and its travel trailer/fifth-wheel sales improved by 34% to $416 million. However, Fleetwood’s folding camper sales declined 19% during the nine-month period to $77 million.