Kit Manufacturing Co., a builder of manufactured homes and towable RVs, lost $1.1 million during its fourth fiscal quarter and $47,000 for its fiscal year 2000, which ended Oct. 31.
The company’s $1.1 million loss during the August-through-October period compares with a loss of $16,000 incurred a year earlier.
Its fiscal year 2000 loss compares with a profit of $373,000 earned during its fiscal 1999.
Kit’s fourth fiscal quarter sales were down 53% to $8.5 million and its fiscal year 2000 revenues were down 24% to $47.9 million.
The company’s RV sales were down 54% and its manufactured home revenues were down 52% during its fourth fiscal quarter. Kit’s RV sales were down 18% and its manufactured home revenues were down 30% during its fiscal year 2000.
One of Kit’s goals is to expand its towable RV market share during its fiscal year 2001, according to Dan Pocapalia, chairman and CEO.