Fleetwood Reports Sharply Lower Earnings
A sluggish manufactured housing market and a slowdown in motorhome sales were the main reasons given for Fleetwood Enterprises Inc. reporting its earnings declined 53% during the fourth quarter of its fiscal year 2000, which ended April 30.
The company earned $11.4 million during the February-through-April period, compared with $24.5 million earned a year earlier.
During its entire fiscal year 2000, Fleetwood earned a total of $83.5 million, a 22% decline from the $107.1 million it earned during its fiscal 1999.
Fleetwood’s total sales declined 6% during its fourth fiscal quarter to $893.9 million but its revenues for its entire fiscal year 2000 were up 6% to $3.71 billion.
The company’s motorhome shipments declined 2% during the February-through-April period to 4,379 units. However, its travel trailer and fifth-wheel shipments were up 1% to 11,018 units and its folding camper shipments increased 7% during the quarter to 5,536 units, according to the company.