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FLEETWOOD REPORTS RECORD SECOND QUARTER SALES

 FLEETWOOD REPORTS RECORD SECOND QUARTER SALES
 RIVERSIDE, Calif., Oct. 29 /PRNewswire/ -- Fleetwood Enterprises


Inc. (NYSE: FLE), the nation's leading producer of recreational vehicles and manufactured housing, today announced record sales for the second quarter and the six months ended Oct. 25, 1992. As a result of sales gains for both recreational vehicles and manufactured housing, preliminary revenues for the second quarter increased 21 percent to $475 million, compared to $391.5 million last year. Consolidated revenues for the first half of fiscal 1993 were approximately $946 million, 20 percent ahead of last year's $789.9 million.
 Manufactured housing revenues climbed to nearly $197 million in the second period, up 34 percent from $147.2 million a year ago. For the first six months of fiscal 1993, housing group revenues were up 30 percent to about $377 million compared to $290.5 million for the similar period last year.
 Commenting on the strong housing performance, Fleetwood President Glenn Kummer said, "Our housing sales were the highest on record for any quarterly or six-month period. This reflects not only a rebound in industry shipments which were up 16 percent for the first eight months of calendar 1992, but also an improvement in Fleetwood's market share position. In addition to growing consumer recognition of the quality and value of Fleetwood homes, we attribute recent sales gains to lower interest rates and increased availability of financing for retail buyers," Kummer concluded.
 Fleetwood's recreational vehicle revenues were also higher in the second quarter, rising 13 percent to nearly $264 million from $232.9 million a year ago, primarily as a result of stronger travel trailer sales. The travel trailer division produced a 37 percent sales increase to $101 million, the highest sales ever achieved for an October quarter. The company's folding trailer division generated record quarterly sales of $16 million, a 33 percent increase over last year's second quarter. Motor home revenues of $146 million were off less than 1 percent from last year's second period.
 Kummer commented on the RV sales increase stating, "Demand for towable RV units has rebounded nicely from the recessionary low point, but motor home sales have not yet fully recovered. We feel good about the outlook for our recreational vehicle sales in the months ahead. This optimism is based in part on the very positive feedback we received from Fleetwood retailers at our recent dealer meetings where our 1993 RV models were introduced. Fleetwood RV products continue to do well in the marketplace, a direct result of our ongoing commitment to the development of innovative products which appeal to value-conscious consumers," Kummer concluded.
 For the first half of fiscal 1993, Fleetwood's recreational vehicle revenues rose nearly 14 percent to about $543 million, up from $478.1 million last year. Travel trailer sales increased 33 percent to approximately $205 million, while folding trailer volume jumped 34 percent to nearly $30 million. The motor home division recorded six-month sales of $308 million, a 2 percent improvement over last year's first half.
 Fleetwood's finance and supply subsidiaries together contributed revenues of about $15 million for the second quarter and $26 million for the first six months of fiscal 1993. This compares with $11.4 million and $21.3 million, respectively, last year.
 Final sales and earnings for the second quarter and the first half will be reported in about four weeks.
 -0- 10/29/92
 /CONTACT: Paul M. Bingham, financial VP, 714-351-3504, or Lyle N. Larkin, 714-351-3535, both of Fleetwood Enterprises/
 (FLE) CO: Fleetwood Enterprises Inc. ST: California IN: AUT CST SU:


KJ-JB -- LA006 -- 6437 10/29/92 09:30 EST
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Publication:PR Newswire
Date:Oct 29, 1992
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