Towable RV and manufactured home builder Kit Manufacturing Co. reports it lost $866,000 during the first quarter of its fiscal year 2001, which ended Jan. 31.
The $866,000 loss compares with a profit of $177,000 earned during the same period a year earlier.
Kit’s total sales during the November-through-January period declined 38% to $6.8 million. Its RV sales revenue declined 24% and its manufactured home sales were down 50% during its first fiscal quarter.
“The RV division’s marketing efforts are now aimed at meeting demand in the upper end of the market as well as developing and introducing new product lines,” said Dan Pocapalia, chairman and CEO.
Short and long-term cost reduction plans are now being implemented within Kit’s RV and manufactured home divisions, but Pocapalia believes “the second quarter will see improved results based on the success of our revised marketing and operational action plans.”