Fleetwood Reports Jump in Profit

Recreational vehicle maker Fleetwood Enterprises Inc. said Friday that its fiscal first-quarter earnings rose sharply on strong sales of its motor homes and higher-margin products.

The company reported net income of $6.7 million, or 12 cents a share, for the quarter ended July 25, compared with $1.9 million, or 5 cents, a year earlier. Sales gained 13% to $727.8 million from $646.1 million a year earlier.

For its current fiscal year, Riverside-based Fleetwood said it expected to improve the profitability of its recreational vehicle business and the wholesale division of its manufactured-housing group. It still expects an operating loss at its retail division.

Fleetwood shares fell 17 cents to $13.34 on the New York Stock Exchange.