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Fleetwood’s Towables Revenue Up 30%

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July 31, 2003 by   Leave a Comment

Fleetwood Enterprises Inc. reports its travel-trailer and fifth-wheel sales revenue increased 30% to $158 million during the three-month period that ended Sunday (July 27).
Additionally, Fleetwood’s motorhome sales revenue increased 18% to $258 million during the May-through-July period, the first quarter of its fiscal year 2004.
However, the company’s folding-camper sales revenue fell 27% to $22 million for the period, which ended July 27.
“The improvement in travel-trailer (and fifth-wheel) and motorhome sales is strong evidence of the success of our new models and the process we have developed to assure that our product offerings connect with consumer preferences,” said Ed Caudill, Fleetwood’s president and CEO. “Both divisions enjoyed excellent sales quarters, as shipments and retails in each reached quarterly levels not seen since calendar year 2000.”
The operating profits from Fleetwood’s motorhome and travel trailer/fifth-wheel businesses apparently were large enough to slightly more than offset the operating losses incurred by the company’s folding-camper and manufacturing housing businesses during the quarter, Caudill said.
Consequently, Fleetwood anticipates reporting “a slight profit” for the first quarter of its fiscal year 2004.
Fleetwood will release in first fiscal quarter earnings in about five weeks.
“The motorhome division should contribute a healthy operating profit to the quarter and we expect travel trailers (and fifth-wheels) to return to profitability, although competitive conditions are currently preventing us from reaching historical margins in either category,” Caudill said.
“The industry decline in folding trailers has affected our sales in that division, and will preclude it from reporting an operating profit,” Caudill added. “We have strong backlogs in all three (RV) divisions as we enter the second (fiscal) quarter.”

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