Fleetwood swings to a loss

Fleetwood Enterprises Inc., which makes recreational vehicles and manufactured homes, said Thursday that it swung to a fiscal third-quarter loss on lower sales and seasonal softness.

The company reported a loss of $29.9 million, or 47 cents a share, compared with a profit of $1.4 million, or 2 cents, a year earlier.

Analysts were looking for a loss of 40 cents a share, according to a Thomson Financial survey.

“The negative results for the quarter reflect normal season weakness, which was intensified by relatively sharp year-over-year declines in manufactured housing and travel trailer industry shipments at the end of the calendar year,” President and Chief Executive Elden L. Smith said.

Results a year earlier benefited from $129 million in sales of FEMA-specified homes and trailers and conventional unit demand after Hurricane Katrina, Smith added.

Revenue for the quarter dropped 24% to $443.2 million. RV group sales slipped to $324 million from $365.3 million, while housing group sales slid to $108.7 million versus $208.8 million in the previous year.

Analysts expected revenue of $444.7 million.

Shares of the Riverside company fell 67 cents to $7.97.