Fleetwood Reports Loss of $1.9 Million
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Fleetwood Enterprises Inc. posted a fiscal second-quarter loss from weaker demand for recreational vehicles as well as severance costs.
The Riverside-based company, which also makes manufactured housing, reported a net loss of $1.9 million, or 3 cents a share, for the period ended Oct. 30, compared with a year-earlier profit of $8.1 million, or 14 cents.
Excluding discontinued operations, Fleetwood earned 7 cents a share, compared with the loss of a penny a share that two analysts polled by Reuters Estimates had expected.
Sales fell 2.5% from last year to $629.5 million, but topped two analysts’ expectations for $626.5 million.
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