Fleetwood - 4th quarter RV sales down 11% on 4th quarter last year
RV Business blog < RVs and RVing  <  Roaming Times

Roaming Times - RV business news

Links - consumer reports, motorhome reviews and news, trailer and 5th wheel reviews and news, classifieds

Fleetwood logo

RV sales down 11% on 4th quarter last year

"We have created a more cost-efficient structure and believe that we are gaining market share in some key segments"

4th quarter fiscal 2007  results


Fleetwood announced on July 12th, 2007, results for fiscal 2007 fourth quarter and full year ended April 29, 2007.

You can read the full press release here, but the following are some key aspects, particularly about their RV business:

  • Consolidated revenues for the fourth quarter of fiscal 2007 declined 16 percent to $508.4 million from $602.6 million in the same period of the prior year
  • Fleetwood's consolidated operating loss was $18.6 million versus operating income of $8.3 million in the fourth quarter of the prior year
  • Recreational vehicle sales were down 11 percent to $382.0 million from $430.2 million in the fourth quarter of the prior year
  • The travel trailer division incurred an operating loss of $17.5 million compared to operating income of $11.2 million in the prior year, with revenues dropping 52 percent to $81.8 million. Travel trailer revenues, excluding those generated by the sale of FEMA units, were down 16 percent
  • For fiscal year 2007, consolidated revenues fell 17 percent to $2.01 billion from $2.43 billion in the prior year.

Elden L. Smith, president and chief executive officer said:  "The difficult market environment was particularly evident in our travel trailer division, where poor operating results prompted us to reduce manufacturing capacity by closing five smaller or underperforming travel trailer plants. We have also made significant improvements to our model year 2008 travel trailers and streamlined our product offering. We have been gratified by the reaction to the early shipments of our '08 travel trailer products. We believe that our company-wide efforts to eliminate inefficiencies, curtail costs, and increase revenues through enhanced products will provide a foundation for Fleetwood's consistent operational improvement. These factors combined with more efficient operations are expected to yield considerably better financial results in the next year."

First Quarter Outlook

"A successful turnaround of our travel trailer business will be key to the extent and timing of our financial improvement in fiscal 2008," Smith said. "In all other areas of our business, we believe we are positioned well for the current markets .."

"Although market conditions in all of our businesses remain flat or worse than last year at this time, we expect improved operating results for the first quarter of fiscal 2008 compared to the prior year," Smith concluded. "We have created a more cost-efficient structure and believe that we are gaining market share in some key segments. As a result, operating results (before interest and taxes) for the first quarter of fiscal 2008 should be close to the breakeven level."


Latest RVing news headlines   

What do you think?  Add your comments below ...

   

Readers comments:

Charles K :   I've been waiting for Fleetwoods latest results for some time and expected them to be worse. 11% year-on-year is not as bad as I thought and I believe they've really rebuilt the business. I think they'll rebound.

Ron Morris :   I've had 2 fleetwoods and both were very good. I have been very happy with their product and I intend to buy another in another couple of years

John A :   Fleetwood, Monaco, Coachmen, National, Skyline - they're all coming in with losses. Building RVs, particularly travel trailers is not a good business to be in right now!

See what people say about Fleetwood RVs


Search RoTi Consumer Reports

Search 

Other RoTi news items about this company or subject:

Fleetwood RV launches 2011 Storm Crossover motorhome nationwide

7/16/2010

"A special motor home because it includes the best aspects of both a Class A and a Class C motor home," said John Draheim, CEO of Fleetwood RV - RV press release
Fleetwood "Drive Your Toys to Illinois" national rally - June 2010

5/3/2010

"All Fleetwood motor home owners, regardless of brand, are welcome to attend the national rally" - RoTi RV press releases and RV news
Fleetwood Selects MCD Shades for 2010 Fleetwood RV Product Lines

4/19/2010

"High-tech total privacy window shade solution that replaces conventional curtains, sun visors, and pleated shades" RV press release with reviews
Fleetwood RV announces the retirement of CEO - press release

3/16/2010

Fleetwood RV announces the retirement of CEO, Chuck Wilkinson - John Draheim takes over
Fleetwood top-selling class A motorhome manufacturer in 2009

2/13/2010

"Because Fleetwood RV is a smaller, more nimble company we can implement dealer and customer feedback into our products more quickly and successfully"
Fleetwood RV rises from the ashes

12/16/2009

"We think if we have the best RV product, the best work force and the best relationship with RV dealers, the market share will come."
Fleetwood RV reinvention

12/15/2009

"An iconic brand goes back to its roots and focuses on what's important"
Fleetwood RV delivers first American Coach - American Eagle

8/27/2009

American Coach (luxury motor home division of Fleetwood RV) delivers the first coach under the new ownership.
Fleetwood RV reopens plant in Indiana

8/24/2009

"Fleetwood RV has recalled over 600 associates and plans to create an additional 300 jobs at its Decatur headquarters by 2012" 
Fleetwood sells folding trailer division

04/30/2008

"The folding trailer division has not proven to be particularly synergistic with the rest of our RV businesses"
Fleetwood sales down 11%

7/12/2007

Fourth quarter fiscal 2007 results, sales down but "We have created a more cost-efficient structure" and gaining market share
Fleetwood deliver 100,000th coach

5/5/2007

Fleetwood delivers the 100,000th motor home from its Decatur, Ind. motorhome manufacturing facility
Fleetwood close travel trailer plants

5/3/2007

Closure of travel trailer manufacturing facility in Lindsay, Ontario and Campbellsville, Kentucky announced
Fleetwood sales down

5/3/2007

Spring selling season "softer than expected" - 4th quarter fiscal 2007 preliminary results
Fleetwood introduce new Class C's

4/30/2007

New for 2008: "Value-priced" Class C - Tioga Ranger and Jamboree Sport
Fleetwood - the price is right

4/2/2007

For the 20th year contestants on the daytime game show 'The Price is Right!' will compete for Fleetwood RVs ..
RoTi reviews of new RVs

section

There is at least one new RV review in the new RV review section for the term you searched.
RoTi RV consumer reports

section

Motorhome, travel trailer, fifth wheel consumer reports and reviews.
Fleetwood reports loss

3/8/2007

Travel trailer sales "disappointing", motorhome sales up - 3rd quarter fiscal 2007 results
Fleetwood RV sales

2/1/2007

Fleetwood RV sales in general down, but motorhome sales up - latest results
Founder of Fleetwood dies

1/12/2007

John Crean, founder of Fleetwood Enterprises, died Thursday January 11th 2007 at the age of 81.

     
Search for previously-owned Fleetwood RVs

Search

Search the latest
2000 ads on RoTi

[../../consumer/newrvs/include.htm]

    

RV manufacturers (open in new window):



Copyright 1999-2008 Roaming Times.  All rights reserved. Contact us. Terms of service.  Site Map.  About Us.  Corporate address: Roaming Times, 4575 E Bajada Rd., Cave Creek, AZ 85331

Roaming Times has thousands of pages of information - search the site with Google:

Google
www Roaming Times

 

 

Consumer Reports