Exhibit 99.2
Fleetwood Enterprises, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(Amounts in thousands, except per share data)
|
| 13 Weeks Ended |
| 40 Weeks Ended |
| 39 Weeks Ended |
| ||||||
|
| January 29, 2006 |
| January 23, 2005 |
| January 29, 2006 |
| January 23, 2005 |
| ||||
Net Sales: |
|
|
|
|
|
|
|
|
| ||||
RV Group |
| $ | 365,342 |
| $ | 342,591 |
| $ | 1,182,015 |
| $ | 1,278,574 |
|
Housing Group |
| 208,812 |
| 183,734 |
| 638,124 |
| 593,298 |
| ||||
Supply Group |
| 9,712 |
| 12,711 |
| 35,330 |
| 42,943 |
| ||||
Intercompany sales |
| — |
| (29,875 | ) | (25,627 | ) | (100,292 | ) | ||||
|
| 583,866 |
| 509,161 |
| 1,829,842 |
| 1,814,523 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Cost of products sold |
| 472,635 |
| 431,349 |
| 1,506,531 |
| 1,494,475 |
| ||||
Gross profit |
| 111,231 |
| 77,812 |
| 323,311 |
| 320,048 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Operating expenses |
| 98,713 |
| 104,061 |
| 296,217 |
| 301,686 |
| ||||
Other, net |
| 582 |
| 12,822 |
| 5,916 |
| 12,794 |
| ||||
|
| 99,295 |
| 116,883 |
| 302,133 |
| 314,480 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Operating income (loss) |
| 11,936 |
| (39,071 | ) | 21,178 |
| 5,568 |
| ||||
Other income (expense): |
|
|
|
|
|
|
|
|
| ||||
Investment income |
| 1,921 |
| 976 |
| 4,077 |
| 1,891 |
| ||||
Interest expense |
| (8,142 | ) | (6,769 | ) | (22,824 | ) | (20,168 | ) | ||||
Other, net |
| — |
| — |
| — |
| (2,724 | ) | ||||
|
|
|
|
|
|
|
|
|
| ||||
|
| (6,221 | ) | (5,793 | ) | (18,747 | ) | (21,001 | ) | ||||
Income (loss) from continuing operations before income taxes |
| 5,715 |
| (44,864 | ) | 2,431 |
| (15,433 | ) | ||||
(Provision) benefit for income taxes |
| (1,007 | ) | 331 |
| (11,345 | ) | (1,310 | ) | ||||
Income (loss) from continuing operations |
| 4,708 |
| (44,533 | ) | (8,914 | ) | (16,743 | ) | ||||
|
|
|
|
|
|
|
|
|
| ||||
Loss from discontinued operations, net |
| (3,332 | ) | (10,156 | ) | (21,185 | ) | (24,259 | ) | ||||
|
|
|
|
|
|
|
|
|
| ||||
Net income (loss) |
| $ | 1,376 |
| $ | (54,689 | ) | $ | (30,099 | ) | $ | (41,002 | ) |
|
| Basic |
| Diluted |
| Basic |
| Diluted |
| Basic |
| Diluted |
| Basic |
| Diluted |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Earnings (loss) per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Income (loss) from continuing operations |
| $ | 0.08 |
| $ | 0.08 |
| $ | (0.80 | ) | $ | (0.80 | ) | $ | (0.15 | ) | $ | (0.15 | ) | $ | (0.30 | ) | $ | (0.30 | ) |
Loss from discontinued operations |
| (0.06 | ) | (0.06 | ) | (0.19 | ) | (0.19 | ) | (0.37 | ) | (0.37 | ) | (0.44 | ) | (0.44 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Net income (loss) per common share |
| $ | 0.02 |
| $ | 0.02 |
| $ | (0.99 | ) | $ | (0.99 | ) | $ | (0.52 | ) | $ | (0.52 | ) | $ | (0.74 | ) | $ | (0.74 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Weighted average common shares |
| 61,838 |
| 62,622 |
| 55,492 |
| 55,492 |
| 58,103 |
| 58,103 |
| 55,193 |
| 55,193 |
|
Fleetwood Enterprises, Inc.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Amounts in thousands)
|
| January 29, 2006 |
| October 30, 2005 |
| January 23, 2005 |
| |||
ASSETS |
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
| |||
Cash |
| $ | 63,725 |
| $ | 91,065 |
| $ | 11,856 |
|
Marketable investments - available for sale |
| 18,108 |
| 17,880 |
| 17,519 |
| |||
Receivables |
| 227,632 |
| 181,690 |
| 208,680 |
| |||
Inventories |
| 225,886 |
| 211,604 |
| 281,725 |
| |||
Deferred taxes, net |
| 44,760 |
| 44,760 |
| 56,905 |
| |||
Assets of discontinued operations |
| — |
| — |
| 171,839 |
| |||
Other current assets |
| 18,983 |
| 22,107 |
| 14,510 |
| |||
Total current assets |
| 599,094 |
| 569,106 |
| 763,034 |
| |||
|
|
|
|
|
|
|
| |||
Property, plant and equipment, net |
| 220,790 |
| 224,657 |
| 237,063 |
| |||
Deferred taxes, net |
| 19,503 |
| 19,503 |
| 17,858 |
| |||
Cash value of Company-owned life insurance, net |
| 30,400 |
| 36,623 |
| 39,689 |
| |||
Goodwill |
| 6,316 |
| 6,316 |
| 6,316 |
| |||
Other assets |
| 46,110 |
| 59,878 |
| 47,901 |
| |||
|
|
|
|
|
|
|
| |||
Total assets |
| $ | 922,213 |
| $ | 916,083 |
| $ | 1,111,861 |
|
|
|
|
|
|
|
|
| |||
LIABILITIES & SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
| |||
Accounts payable |
| $ | 68,081 |
| $ | 83,232 |
| $ | 81,332 |
|
Employee compensation & benefits |
| 75,630 |
| 76,604 |
| 72,638 |
| |||
Product warranty reserve |
| 66,751 |
| 65,393 |
| 60,641 |
| |||
Short-term borrowings |
| 5,016 |
| 19,981 |
| 60,902 |
| |||
Accrued interest |
| 63,702 |
| 60,045 |
| 47,732 |
| |||
Liabilities of discontinued operations |
| — |
| — |
| 69,689 |
| |||
Other current liabilities |
| 73,912 |
| 89,227 |
| 82,255 |
| |||
Total current liabilities |
| 353,092 |
| 394,482 |
| 475,189 |
| |||
|
|
|
|
|
|
|
| |||
Deferred compensation and retirement benefits |
| 33,776 |
| 39,656 |
| 41,477 |
| |||
Insurance reserves |
| 33,341 |
| 47,579 |
| 32,628 |
| |||
Long-term debt |
| 125,249 |
| 126,507 |
| 108,253 |
| |||
Convertible subordinated debentures |
| 210,142 |
| 210,142 |
| 210,142 |
| |||
|
|
|
|
|
|
|
| |||
Total liabilities |
| 755,600 |
| 818,366 |
| 867,689 |
| |||
|
|
|
|
|
|
|
| |||
Commitments and contingencies |
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
| |||
Shareholders’ equity: |
|
|
|
|
|
|
| |||
Common stock |
| 63,616 |
| 56,499 |
| 55,544 |
| |||
Additional paid-in capital |
| 487,041 |
| 427,120 |
| 423,341 |
| |||
Accumulated deficit |
| (386,895 | ) | (388,271 | ) | (236,339 | ) | |||
Accumulated other comprehensive loss |
| 2,851 |
| 2,369 |
| 1,626 |
| |||
|
|
|
|
|
|
|
| |||
Total shareholders’ equity |
| 166,613 |
| 97,717 |
| 244,172 |
| |||
|
|
|
|
|
|
|
| |||
Total liabilities and shareholders’ equity |
| $ | 922,213 |
| $ | 916,083 |
| $ | 1,111,861 |
|
Fleetwood Enterprises, Inc.
BUSINESS SEGMENT AND UNIT SHIPMENT INFORMATION
(Unaudited)
(Amounts in thousands)
|
| 13 Weeks Ended |
| 40 Weeks Ended |
| 39 Weeks Ended |
| ||||||
|
| January 29, 2006 |
| January 23, 2005 |
| January 29, 2006 |
| January 23, 2005 |
| ||||
OPERATING REVENUES: |
|
|
|
|
|
|
|
|
| ||||
RV Group |
| $ | 365,342 |
| $ | 342,591 |
| $ | 1,182,015 |
| $ | 1,278,574 |
|
Housing Group |
| 208,812 |
| 183,734 |
| 638,124 |
| 593,298 |
| ||||
Supply Group |
| 9,712 |
| 12,711 |
| 35,330 |
| 42,943 |
| ||||
Intercompany sales |
| — |
| (29,875 | ) | (25,627 | ) | (100,292 | ) | ||||
|
|
|
|
|
|
|
|
|
| ||||
|
| $ | 583,866 |
| $ | 509,161 |
| $ | 1,829,842 |
| $ | 1,814,523 |
|
|
|
|
|
|
|
|
|
|
| ||||
OPERATING INCOME (LOSS): |
|
|
|
|
|
|
|
|
| ||||
RV Group |
| $ | 3,806 |
| $ | (33,495 | ) | $ | (1,978 | ) | $ | (9,342 | ) |
Housing Group |
| 13,073 |
| (4,367 | ) | 32,249 |
| 13,418 |
| ||||
Supply Group |
| (370 | ) | 590 |
| 2,229 |
| 3,362 |
| ||||
Corporate and other |
| (4,573 | ) | (1,799 | ) | (11,322 | ) | (1,870 | ) | ||||
|
|
|
|
|
|
|
|
|
| ||||
|
| $ | 11,936 |
| $ | (39,071 | ) | $ | 21,178 |
| $ | 5,568 |
|
|
|
|
|
|
|
|
|
|
| ||||
UNITS SOLD: |
|
|
|
|
|
|
|
|
| ||||
Recreational vehicles - |
|
|
|
|
|
|
|
|
| ||||
Motor homes |
| 1,622 |
| 2,097 |
| 6,873 |
| 8,210 |
| ||||
Travel trailers |
| 10,711 |
| 6,099 |
| 25,062 |
| 21,818 |
| ||||
Folding trailers |
| 2,249 |
| 2,334 |
| 8,094 |
| 8,616 |
| ||||
|
| 14,582 |
| 10,530 |
| 40,029 |
| 38,644 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Manufactured housing - |
|
|
|
|
|
|
|
|
| ||||
Factory shipments |
| 6,104 |
| 5,533 |
| 18,572 |
| 18,277 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Less intercompany |
| — |
| (794 | ) | (673 | ) | (2,746 | ) | ||||
|
|
|
|
|
|
|
|
|
| ||||
Total shipments from continuing operations |
| 20,686 |
| 15,269 |
| 57,928 |
| 54,175 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Retail housing sales |
| — |
| 884 |
| 1,393 |
| 3,211 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Total Company shipments |
| 20,686 |
| 16,153 |
| 59,321 |
| 57,386 |
|
Fleetwood Enterprises, Inc.
SUPPLEMENTAL OPERATING DATA
Quarter Ended January 29, 2006
(Unaudited)
(Dollars in thousands, except price per unit)
|
| Recreational Vehicle Group |
|
|
|
|
|
|
|
|
| ||||||||||||||
|
| Motor |
| Travel |
| Folding |
|
|
| Housing |
| Supply |
|
|
| Company |
| ||||||||
|
| Homes |
| Trailers |
| Trailers |
| Total |
| Group |
| Group |
| Other |
| Total |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Operating revenues |
| $ | 180,677 |
| $ | 169,256 |
| $ | 15,409 |
| $ | 365,342 |
| $ | 208,812 |
| $ | 9,712 | (A) | $ | — |
| $ | 583,866 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Units sold |
| 1,622 |
| 10,711 |
| 2,249 |
| 14,582 |
| 6,104 |
|
|
|
|
|
|
| ||||||||
Single-sections |
|
|
|
|
|
|
|
|
| 2,927 |
|
|
|
|
|
|
| ||||||||
Multi-sections |
|
|
|
|
|
|
|
|
| 3,177 |
|
|
|
|
|
|
| ||||||||
Pre-owned |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Class As |
| 1,309 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Class Cs |
| 313 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Conventional trailers |
|
|
| 10,056 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Fifth-wheel trailers |
|
|
| 655 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
| ||||||||
Average selling price per unit |
| $ | 111,391 |
| $ | 15,802 |
| $ | 6,851 |
| NM |
| $ | 34,209 |
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Gross profit percent |
| 13.6 | % | 17.6 | % | 8.9 | % | 15.3 | % | 25.5 | % | 7.8 | % | NM |
| 19.1 | % | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Operating income (loss) |
| $ | (4,054 | ) | $ | 11,169 |
| $ | (3,309 | ) | $ | 3,806 |
| $ | 13,073 |
| $ | (370 | ) | $ | (4,573 | ) | $ | 11,936 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Operating margin |
| (2.2 | )% | 6.6 | % | (21.5 | )% | 1.0 | % | 6.3 | % | (3.8 | )% | NM |
| 2.1 | % | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Depreciation |
| $ | 1,180 |
| $ | 513 |
| $ | 316 |
| $ | 2,009 |
| $ | 1,745 |
| $ | 314 |
| $ | 1,666 |
| $ | 5,734 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Capital expenditures (est.) |
| $ | 1,722 |
| $ | 600 |
| $ | 35 |
| $ | 2,357 |
| $ | 1,747 |
| $ | 149 |
| $ | 287 |
| $ | 4,540 |
|
(A) Excludes $40.8 million of intercompany sales.
NM Not meaningful.
Fleetwood Enterprises, Inc.
SUPPLEMENTAL OPERATING DATA
Quarter Ended January 23, 2005
(Unaudited)
(Dollars in thousands, except price per unit)
|
| Recreational Vehicle Group |
|
|
|
|
|
|
|
|
| ||||||||||||||
|
| Motor |
| Travel |
| Folding |
|
|
| Housing |
| Supply |
|
|
| Company |
| ||||||||
|
| Homes |
| Trailers |
| Trailers |
| Total |
| Group |
| Group |
| Other |
| Total |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Operating revenues |
| $ | 231,073 |
| $ | 95,334 |
| $ | 16,184 |
| $ | 342,591 |
| $ | 183,734 |
| $ | 12,711 | (A) | $ | (29,875 | )(B) | $ | 509,161 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Units sold |
| 2,097 |
| 6,099 |
| 2,334 |
| 10,530 |
| 5,533 |
|
|
|
|
|
|
| ||||||||
Single-sections |
|
|
|
|
|
|
|
|
| 1,518 |
|
|
|
|
|
|
| ||||||||
Multi-sections |
|
|
|
|
|
|
|
|
| 4,015 |
|
|
|
|
|
|
| ||||||||
Pre-owned |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Class As |
| 1,784 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Class Cs |
| 313 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Conventional trailers |
|
|
| 4,837 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Fifth-wheel trailers |
|
|
| 1,262 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Average selling price per unit |
| $ | 110,192 |
| $ | 15,631 |
| $ | 6,934 |
| NM |
| $ | 33,207 |
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Gross profit percent |
| 14.3 | % | 3.3 | % | 8.0 | % | 11.0 | % | 21.2 | % | 14.5 | % | NM |
| 15.3 | % | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Operating income (loss) |
| $ | 897 |
| $ | (16,205 | ) | $ | (18,187 | ) | $ | (33,495 | ) | $ | (4,367 | ) | $ | 590 |
| $ | (1,799 | ) | $ | (39,071 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Operating margin |
| 0.4 | % | (17.0 | )% | (112.4 | )% | (9.8 | )% | (2.4 | )% | 4.6 | % | NM |
| (7.6 | )% | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Depreciation |
| $ | 1,214 |
| $ | 536 |
| $ | 348 |
| $ | 2,098 |
| $ | 1,807 |
| $ | 371 |
| $ | 1,448 |
| $ | 5,724 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Capital expenditures (est.) |
| $ | 5,081 |
| $ | 238 |
| $ | 424 |
| $ | 5,743 |
| $ | 981 |
| $ | 289 |
| $ | 627 |
| $ | 7,640 |
|
(A) Excludes $38.1 million of intercompany sales.
(B) Represents the elimination of intercompany sales by the Housing Group to the retail housing business.
NM Not meaningful.
Fleetwood Enterprises, Inc.
SUPPLEMENTAL OPERATING DATA
Fiscal Year-To-Date January 29, 2006
(Unaudited)
(Dollars in thousands, except price per unit)
|
| Recreational Vehicle Group |
|
|
|
|
|
|
|
|
| ||||||||||||||
|
| Motor |
| Travel |
| Folding |
|
|
| Housing |
| Supply |
|
|
| Company |
| ||||||||
|
| Homes |
| Trailers |
| Trailers |
| Total |
| Group |
| Group |
| Other |
| Total |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Operating revenues |
| $ | 727,207 |
| $ | 393,425 |
| $ | 61,383 |
| $ | 1,182,015 |
| $ | 638,124 |
| $ | 35,330 | (A) | $ | (25,627 | )(B) | $ | 1,829,842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Units sold |
| 6,873 |
| 25,062 |
| 8,094 |
| 40,029 |
| 18,572 |
|
|
|
|
|
|
| ||||||||
Single-sections |
|
|
|
|
|
|
|
|
| 7,146 |
|
|
|
|
|
|
| ||||||||
Multi-sections |
|
|
|
|
|
|
|
|
| 11,426 |
|
|
|
|
|
|
| ||||||||
Pre-owned |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Class As |
| 5,196 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Class Cs |
| 1,677 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Conventional trailers |
|
|
| 22,242 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Fifth-wheel trailers |
|
|
| 2,820 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Average selling price per unit |
| $ | 105,806 |
| $ | 15,698 |
| $ | 7,584 |
| NM |
| $ | 34,359 |
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Gross profit percent |
| 13.2 | % | 12.2 | % | 13.3 | % | 13.2 | % | 24.4 | % | 15.3 | % | NM |
| 17.6 | % | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Operating income (loss) |
| $ | 3,983 |
| $ | (1,347 | ) | $ | (4,614 | ) | $ | (1,978 | ) | $ | 32,249 |
| $ | 2,229 |
| $ | (11,322 | ) | $ | 21,178 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Operating margin |
| 0.5 | % | (0.3 | )% | (7.5 | )% | (0.2 | )% | 5.1 | % | 6.3 | % | NM |
| 1.2 | % | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Depreciation |
| $ | 3,399 |
| $ | 1,506 |
| $ | 1,001 |
| $ | 5,906 |
| $ | 5,227 |
| $ | 963 |
| $ | 4,965 |
| $ | 17,061 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Capital expenditures (est.) |
| $ | 5,214 |
| $ | 1,226 |
| $ | 456 |
| $ | 6,896 |
| $ | 3,633 |
| $ | 396 |
| $ | 1,649 |
| $ | 12,574 |
|
(A) Excludes $125.9 million of intercompany sales.
(B) Represents the elimination of intercompany sales by the Housing Group to the retail housing business.
NM Not meaningful.
Fleetwood Enterprises, Inc.
SUPPLEMENTAL OPERATING DATA
Fiscal Year-To-Date January 23, 2005
(Unaudited)
(Dollars in thousands, except price per unit)
|
| Recreational Vehicle Group |
|
|
|
|
|
|
|
|
| ||||||||||||||
|
| Motor |
| Travel |
| Folding |
|
|
| Housing |
| Supply |
|
|
| Company |
| ||||||||
|
| Homes |
| Trailers |
| Trailers |
| Total |
| Group |
| Group |
| Other |
| Total |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Operating revenues |
| $ | 851,282 |
| $ | 361,374 |
| $ | 65,918 |
| $ | 1,278,574 |
| $ | 593,298 |
| $ | 42,943 | (A) | $ | (100,292 | )(B) | $ | 1,814,523 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Units sold |
| 8,210 |
| 21,818 |
| 8,616 |
| 38,644 |
| 18,277 |
|
|
|
|
|
|
| ||||||||
Single-sections |
|
|
|
|
|
|
|
|
| 6,118 |
|
|
|
|
|
|
| ||||||||
Multi-sections |
|
|
|
|
|
|
|
|
| 12,159 |
|
|
|
|
|
|
| ||||||||
Pre-owned |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Class As |
| 6,474 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Class Cs |
| 1,736 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Conventional trailers |
|
|
| 16,712 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Fifth-wheel trailers |
|
|
| 5,106 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Average selling price per unit |
| $ | 103,688 |
| $ | 16,563 |
| $ | 7,651 |
| NM |
| $ | 32,461 |
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Gross profit percent |
| 15.2 | % | 9.3 | % | 13.8 | % | 13.5 | % | 23.2 | % | 17.1 | % | NM |
| 17.6 | % | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Operating income (loss) |
| $ | 32,887 |
| $ | (22,526 | ) | $ | (19,703 | ) | $ | (9,342 | ) | $ | 13,418 |
| $ | 3,362 |
| $ | (1,870 | ) | $ | 5,568 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Operating margin |
| 3.9 | % | (6.2 | )% | (29.9 | )% | (0.7 | )% | 2.3 | % | 7.8 | % | NM |
| 0.3 | % | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Depreciation |
| $ | 3,012 |
| $ | 1,635 |
| $ | 1,036 |
| $ | 5,683 |
| $ | 5,197 |
| $ | 1,166 |
| $ | 4,333 |
| $ | 16,379 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Capital expenditures (est.) |
| $ | 18,083 |
| $ | 825 |
| $ | 662 |
| $ | 19,570 |
| $ | 3,232 |
| $ | 1,145 |
| $ | 4,060 |
| $ | 28,007 |
|
(A) Excludes $137.2 million of intercompany sales.
(B) Represents the elimination of intercompany sales by the Housing Group to the retail housing business.
NM Not meaningful.
Fleetwood Enterprises, Inc.
SUPPLEMENTAL OPERATIONAL DATA
Quarter Ended January 29, 2006
(Unaudited)
(Dollars in thousands)
|
| Recreational Vehicle Group |
|
|
|
|
| |||||||||||
|
| Motor |
| Travel |
| Folding |
|
|
| Housing |
| Supply |
| |||||
|
| Homes |
| Trailers |
| Trailers |
| Total |
| Group |
| Group |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Number of facilities (A) |
| 3 |
| 8 |
| 1 |
| 12 |
| 21 |
| 3 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Capacity utilization (B) |
| 54 | % | 115 | % | 42 | % | NM |
| 62 | % | NM |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Number of independent |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
distribution points |
| 269 |
| 605 |
| 494 |
| NM |
| 1,248 |
| NM |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Backlog units |
| 903 |
| 7,504 |
| 466 |
| 8,873 |
| 1,014 |
| NM |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Sales value (C) |
| $ | 100,587 |
| $ | 118,578 |
| $ | 3,193 |
| $ | 222,358 |
| $ | 34,688 |
| NM |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Dealer inventories (units) |
| 4,210 |
| 14,977 |
| 7,804 |
| NM |
|
|
| NM |
| |||||
Independent |
|
|
|
|
|
|
|
|
| 7,888 |
|
|
| |||||
Retail |
|
|
|
|
|
|
|
|
| — |
|
|
| |||||
(A) Number of active facilities at the end of the quarter.
(B) Based on production levels at the end of the period.
(C) The number of units in the backlog multiplied by the average selling price.
NM Not meaningful.
Fleetwood Enterprises, Inc.
SUPPLEMENTAL OPERATIONAL DATA
Quarter Ended January 23, 2005
(Unaudited)
(Dollars in thousands)
|
| Recreational Vehicle Group |
|
|
|
|
| |||||||||||
|
| Motor |
| Travel |
| Folding |
|
|
| Housing |
| Supply |
| |||||
|
| Homes |
| Trailers |
| Trailers |
| Total |
| Group |
| Group |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Number of facilities (A) |
| 3 |
| 9 |
| 1 |
| 13 |
| 23 |
| 3 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Capacity utilization (B) |
| 74 | % | 57 | % | 46 | % | NM |
| 58 | % | NM |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Number of independent |
| 258 |
| 608 |
| 503 |
| NM |
| 1,282 |
| NM |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Backlog units |
| 769 |
| 2,483 |
| 1,154 |
| 4,406 |
| 1,834 |
| NM |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Sales value (C) |
| $ | 84,738 |
| $ | 38,812 |
| $ | 8,002 |
| $ | 131,552 |
| $ | 60,902 |
| NM |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Dealer inventories (units) |
| 5,062 |
| 17,145 |
| 8,790 |
| NM |
|
|
| NM |
| |||||
Independent |
|
|
|
|
|
|
|
|
| 6,473 |
|
|
| |||||
Retail |
|
|
|
|
|
|
|
|
| 1,828 |
|
|
| |||||
(A) Number of active facilities at the end of the quarter.
(B) Based on production levels at the end of the period.
(C) The number of units in the backlog multiplied by the average selling price.
NM Not meaningful.