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California | IN BRIEF / Southern California

Fleetwood Delays 4th-Quarter Results

June 11, 2002|Bloomberg News

Fleetwood Enterprises Inc. delayed release of its fiscal fourth-quarter and year-end results until early July while it awaits completion of an audit.

The Riverside-based maker of recreational vehicles and manufactured homes had replaced outside auditor Arthur Andersen with Ernst & Young in April. The new auditor hasn't finished a review of results for the two periods ended April 28 in time for the scheduled release this week, spokeswoman Kathy Snyder said.

There are no allegations of wrongdoing or problems with previous audits, she said.

Analysts on average expect the company to report losses of 8 cents a share for the quarter and $1 for the year.

Fleetwood had net losses of $1.36 a share in the year-earlier quarter and $8.67 in the previous year.

The company's shares fell 43 cents, or 4.2%, to $9.75 on the New York Stock Exchange.

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