Towable RV and manufactured home builder Kit Manufacturing Co. reported its third fiscal quarter earnings declined 53% primarily because of the soft manufactured home market.
The company earned $53,000 during the three months ended July 31.
Meanwhile, Kit’s sales during the May-through-July period declined 17% to $13.6 million. Its RV revenues were down 2% while its manufactured home sales were down 33% during the quarter, according to Dan Pocapalia, chairman and CEO.
During the nine months ended July 31, Kit’s earnings increased almost threefold to $1.1 million despite a 13% decline in sales revenue to $39.4 million. Sales of properties in McPherson, Kan., and Chino, Calif., provided the profit during the nine-month period.
Kit’s RV revenues were down 2% and its manufactured home sales were down 23% during the nine-month period.