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Fleetwood Quarterly Earnings Climb 11%

November 25, 1998| Bloomberg News

Fleetwood Enterprises Inc., one of the largest producers of manufactured homes in the U.S., said its fiscal second-quarter earnings rose a better-than-expected 11% on improved sales of recreational vehicles. The Riverside-based company's net income for the three months ended Oct. 25 rose to $31.1 million, or 84 cents a share, from $28.1 million, or 77 cents, in the year-earlier period. That beat the average 78 cents estimate of five analysts polled by First Call Corp. The company's stock rose 5%, or $1.69, to close at $35.25 on the NYSE. Fleetwood said second-quarter revenue rose to $897.8 million from $769.1 million. The firm's recreational vehicle sales rose 18% to $432.7 million.

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