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FLEETWOOD ANNOUNCES RECORD SALES FOR FOURTH QUARTER AND FISCAL 1993

 RIVERSIDE, Calif., April 28 /PRNewswire/ -- Fleetwood Enterprises Inc., the nation's leading producer of recreational vehicles and manufactured housing, today reported record sales for the fourth quarter and the fiscal year ended April 25, 1993. Preliminary revenues for the fourth quarter increased 21 percent to approximately $553 million, up from $458.3 million last year, primarily on the strength of a 35 percent gain in manufactured housing sales. Total revenues for all of fiscal 1993 rose 22 percent to $1.94 billion, surpassing the previous high of $1.62 billion reached in fiscal 1989.
 Manufactured housing revenues for the fourth quarter and the fiscal year reached all-time highs. April quarter revenues of approximately $208 million were the highest for any quarterly period on record, rising 35 percent from last year's $153.4 million. Fiscal 1993 housing sales were also up 35 percent to about $774 million compared to $574.1 million in the prior year.
 Commenting on the housing increase, Fleetwood President Glenn Kummer said, "The manufactured housing industry had an excellent year in calendar 1992 as shipments rose 23 percent to more than 210,000 units. At the same time, Fleetwood improved its market share position for the 12th consecutive year. The strength of the overall market has continued in the early part of calendar 1993, and the critical elements seem to be in place to sustain a healthy demand for the foreseeable future."
 Preliminary recreational vehicle sales for the latest 13-week period were $330 million, 12 percent ahead of the $294.3 million recorded in last year's final quarter. All three RV operating divisions recorded higher revenues for the fourth quarter. Domestic motor home revenues rose 6 percent to about $185 million compared to $173.8 million a year ago. Travel trailer sales increased 9 percent to $117 million, up from $107.4 million last year. The company's folding trailer division posted an impressive 50 percent sales gain to nearly $20 million compared to $13.1 million in last year's final period. Three-month sales for the recently acquired European RV operation were approximately $8 million.
 Recreational vehicle revenues for fiscal year 1993 reached an all-time high of $1.11 billion, nearly 15 percent ahead of last year's $972.1 million. The travel trailer division registered a 23 percent sales gain to $406 million, while folding trailers jumped 32 percent to about $64 million. Domestic motor home sales improved to $625 million, a 5 percent increase over fiscal 1992. Revenues from Fleetwood's European operation since its acquisition in September 1992 amounted to approximately $19 million.
 Kummer commented on the RV sales increase, saying, "Fleetwood's sales gains in fiscal 1993 have been mainly driven by growth in demand for towable units. We are very pleased with the favorable market response to Fleetwood travel trailer and folding trailer models designed to appeal to today's value-conscious consumer. Motor home sales made a mild recovery in the second half of fiscal 1993 and closed the year on a positive note. Overall, we expected our spring selling season for RVs would be somewhat stronger, but sales were hampered by inclement weather and consumer concerns about the prospect of higher income taxes," Kummer concluded.
 Fleetwood's supply and finance operations together contributed revenues of about $15 million for the fourth quarter and $54 million for the fiscal year. This compares with $10.5 million and $43.1 million, respectively, last year.
 Earnings for the fourth quarter and the fiscal year, along with unit shipments by product line, will be announced in about four weeks.
 -0- 4/28/93
 /CONTACT: Paul M. Bingham, 909-351-3504, or Lyle N. Larkin, 909-351-3535, both of Fleetwood Enterprises/


CO: Fleetwood Enterprises Inc. ST: California IN: CST SU: ERN

MS-LS -- LA010 -- 1775 04/28/93 08:31 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
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