Fleetwood Enterprises has $57 million net loss for 2Q 2009

Greater Fort Wayne Business Weekly

Riverside, Calif.-based Fleetwood Enterprises today reported a net loss of $56.7 million for the second quarter of fiscal 2009, or 74 cents per share.

That compares with a net loss of $1.2 million, or 2 cents per share, in the second quarter of fiscal 2008.

In a statement, the company said consolidated revenue for the quarter was $216.4 million, down 54 percent from $468.5 million in the previous year's second quarter. RV Group sales saw a 63-percent decline, and Housing Group sales were off 33 percent.

The company said it incurred an operating loss of $51.8 million in the fiscal 2009 second quarter, which included restructuring charges - mostly severance - and asset writedowns of $11.5 million, or 15 cents per share.

During the second quarter of fiscal 2008, Fleetwood reported operating income of $4.1 million.

On Monday, Fleetwood announced the closure of eight manufactured-housing plants across the country.

Fleetwood has operations in Decatur.