Fleetwood’s 4Q RV Sales Up 19%
Fleetwood Enterprises Inc. reports its RV sales increased 19% during its fourth fiscal quarter and rose 20% during its full fiscal year 2004, both of which ended Sunday (April 25).
Fleetwood’s total RV sales during the February-through-April period increased 19% to $482 million and its motorhome sales improved by 21% to $300 million.
The New York Stock Exchange-listed company’s fourth fiscal quarter travel trailer/fifth-wheel sales also increased 17% to $155 million and its struggling folding camper operation reported a 3% sales increase to $27 million.
During the 12 months ended April 25, Fleetwood’s total RV sales increased 20% to $1.78 billion and its motorhome-related revenue also grew by 20% to $1.10 billion.
Its travel trailer/fifth-wheel revenue increased by a robust 29% rate during fiscal 2004 to $571 million while the company’s folding camper sales declined 15% during the 12-month period to $104 million.
“Fleetwood is participating fully in the (RV) industry expansion, and is also increasing its RV market share in key, higher-margin products such as Class A motorhomes and fifth-wheels,” said Ed Caudill, president and CEO. “Much of the improvement in sales is a result of deign innovations, which focus on producing high-value products distributed by our excellent dealer network.
“We are excited about the future of this business and fully expect Fleetwood to achieve continued success and further market penetration,” Caudill added.
Although Fleetwood’s Housing Group sales revenue increased by 22% during the February-through-April period, Caudill said, “We continue to be cautious” about whether the company will be profitable during its fourth fiscal quarter and full fiscal year 2004.
In terms of profitability, Caudill said, “Only the motorhome division is performing at a level we consider acceptable.”
Fleetwood is expected to release its fourth fiscal quarter and full fiscal year 2004 earnings statement in late May or early June.