Towable RV and manufactured home builder Kit Manufacturing Co. reports it lost $614,000 during the third quarter of its fiscal year, which ended July 31.
The company’s loss during the May-through-July period compares with a profit of $53,000 earned a year earlier.
The profit earned during the May-through-June portion of 2000 occurred largely due to a one-time-only after-tax gain of $402,000 from the sale of property in Kansas.
Kit’s total sales declined 16% during its third fiscal quarter to $11.4 million. However, its RV sales revenue fell 29% while its manufactured home sales increased 5%.
For the nine months ended July 31, Kit reports it lost $2.1 million, which compares with a profit of $1.1 million earned during the same period a year earlier.
Kit’s sales during the nine-month period declined 23% to $30.4 million.