Fleetwood’s Profit Soars in Quarter
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Fleetwood Enterprises Inc., the largest U.S. maker of recreational vehicles, said its fiscal second-quarter profit more than doubled to $8.1 million, or 14 cents a share, from $3.8 million, or 10 cents, a year earlier.
Sales climbed to $712.3 million in the quarter ended Oct. 24 from $674.7 million a year earlier. The Riverside company said stronger sales of its motor homes and wholesale manufactured housing were partly offset by weakness in towable recreational vehicles and retail manufactured housing.
Fleetwood said it would be profitable in fiscal 2005 but expected a net loss in the third quarter because of a seasonal slowdown.
Fleetwood’s shares rose 9 cents to $13.85 on the New York Stock Exchange before its earnings report was released.
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