> SUBSCRIBE FOR FREE! 

Patrick Industries Inc., a supplier/distributor with customers in the manufactured housing and RV industries, lost $1.4 million during the fourth quarter and $4.5 million during the full year 2000.

The loss for the full year occurred largely because the company took a $7.7 million charge for “asset impairment and restructuring.” Patrick decided to take the asset impairment charge because of the weak manufactured housing market all of last year and the RV industry’s deteriorating market conditions during the second half of last year, said David Lung, president and CEO.

Patrick’s sales declined 36% during the fourth quarter to $70.9 million and its sales for the full year 2000 were down 21% to $361.6 million.