RV Maker Posts Loss Amid Slow Sales

Fleetwood Enterprises Inc., the largest U.S. maker of recreational vehicles, said it expects a loss in its quarter ending Jan. 31 as sales of RVs and manufactured housing continue to slow. The forecast comes as Fleetwood said it had a loss from operations of $909,000, or 3 cents, in the quarter ended Oct. 29, its second straight quarterly loss. The Riverside-based company’s sales fell 27% to $741.1 million. Fleetwood’s second-quarter results reflect sales declines of 30% for RVs and 23% for manufactured housing. Fleetwood closed five factories and fired more than 800 workers earlier this year to cut costs. The RV industry’s slump comes after 1999, which was its best sales year in 21 years. In its year-earlier third quarter, the company had net income of $15.9 million, or 48 cents a share. Fleetwood shares were unchanged at $12.50 on the New York Stock Exchange. The stock has fallen 36% this year.