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Fleetwood Enterprises, Inc. (OTC: FLTWQ) Snapshot

Updated July 27, 2009

 

Company Profile

 

Fleetwood Enterprises, Inc., through its subsidiaries, is one of North America's largest producers of recreational vehicles and manufactured homes. Fleetwood produces the widest range of motorized and towable RV's in the industry including Class A gas and diesel coaches, travel trailers, toy haulers and folding camping trailers.

 

Consolidated Charting

 

Consolidated Statements
            Quarter Ending
FLTWQ Income Statement Fiscal Year (April 30)     Q1-06 Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07 Q4-07 Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 Q2-09 Q3-09
  2006 2007 2008 ttm   Jul-05 Oct-05 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09
Revenue  ssssss
 2,432,400
 2,007,922  1,659,980     940,646      616,475    629,501    583,866    602,558    529,771    526,573    443,172    508,406    510,242    490,135    355,498    304,105    289,912    216,405    130,224
Cost of Goods Sold sssssss
 2,009,708
 1,730,536  1,410,133     861,915      516,412    517,484    472,635    478,495    456,517    453,058    384,597    436,364    433,667    405,844    306,423    264,199    253,165    199,501    145,050
Gross Margin s
    422,692
    277,386     249,847       78,731      100,063    112,017    111,231    124,063     73,254     73,515     58,575     72,042     76,575     84,291     49,075     39,906     36,747     16,904    (14,826)
As a % of Sales 17.4% 13.8% 15.1% 8.4%   16.2% 17.8% 19.1% 20.6% 13.8% 14.0% 13.2% 14.2% 15.0% 17.2% 13.8% 13.1% 12.7% 7.8% -11.4%
                                         
Operating Expenses                                        
R&D              -              -              -              -               -             -             -             -             -             -             -             -             -             -             -             -             -             -             -
SG&A sssss
    387,133
    341,529     262,474     227,107      100,956    101,882     99,295     91,054     83,552     87,867     79,439     90,671     70,551     81,347     58,795     51,781     59,980     61,917     53,429
Non Recurring               -              -     (30,460)     (30,460)               -             -             -             -             -             -             -             -             -     (1,454)       1,454    (30,460)   -          6,826     (6,826)
Others ssssss
       6,054
       2,873            -                -               -             -             -     24,682     (2,064)         874       4,063                     -             -             -             -
Operating Expenses      393,187     344,402     232,014     196,647      100,956    101,882     99,295    115,736     81,488     88,741     83,502     90,671     70,551     79,893     60,249     21,321     59,980     68,743     46,603
As a % of Sales ssssss
16.2%
17.2% 14.0% 20.9%   16.4% 16.2% 17.0% 19.2% 15.4% 16.9% 18.8% 17.8% 13.8% 16.3% 16.9% 7.0% 20.7% 31.8% 35.8%
  s                                      
Operating Income sssssssssssssssssss
      29,505
ssss
    (67,016)
ssss
      17,833
   (117,916)          (893)     10,135     11,936       8,327     (8,234)    (15,226)    (24,927)    (18,629)       6,024       4,398    (11,174)     18,585    (23,233)    (51,839)    (61,429)
As a % of Sales 1.2% -3.3% 1.1% -12.5%   -0.1% 1.6% 2.0% 1.4% -1.6% -2.9% -5.6% -3.7% 1.2% 0.9% -3.1% 6.1% -8.0% -24.0% -47.2%
                                         
Income from Continuing Operations                                        
Total Other Income/Expenses Net  sssssss
       5,437
      24,432        4,459       19,430         1,005       1,151       1,921     (4,101)     20,670       1,292       1,269       1,201       1,317       1,222       1,187         733         861         828     17,008
Earnings Before Interest And Taxes        34,942     (42,584)       22,292     (98,486)           112     11,286     13,857       4,226     12,436    (13,934)    (23,658)    (17,428)       7,341       5,620     (9,987)     19,318    (22,372)    (51,011)    (44,421)
Interest Expense  sssss
      29,662
      28,457       23,010       22,448         7,399       7,283       8,142       6,838       6,773       6,058       5,942       9,684       5,516       6,669       6,161       4,664       4,992       5,581       7,211
Income Before Tax  s
       5,280
    (71,041)         (718)    (120,934)       (7,287)       4,003       5,715     (2,612)       5,663    (19,992)    (29,600)    (27,112)       1,825     (1,049)    (16,148)     14,654    (27,364)    (56,592)    (51,632)
Income Tax Expense  ssssss
      11,345
      16,609       (3,637)       49,790       10,126         212       1,007             -       4,994        (223)           70     11,768       3,805           96         122     (7,660)         406         196     56,848
Minority Interest  ssssssss
             -
             -              -              -               -             -             -             -             -             -             -             -             -             -             -             -             -             -             -
Net Income From Continuing Ops        (6,065)     (87,650)        2,919    (170,724)      (17,413)       3,791       4,708     (2,612)         669    (19,769)    (29,670)    (38,880)     (1,980)     (1,145)    (16,270)     22,314    (27,770)    (56,788)  (108,480)
                                         
Non-recurring Events ssssss                                      
Discontinued Operations      (22,372)       (2,311)       (3,932)       (5,066)      (12,144)     (5,709)     (3,332)     21,185     (1,080)        (658)        (235)        (338)        (366)          (68)          (87)     (3,411)     (1,308)           63        (410)
Extraordinary Items  ssssss
             -
             -              -              -               -             -             -             -             -             -             -             -             -             -             -   -      -      -      -   
Effect Of Accounting Changes  ssssss
             -
             -              -              -               -             -             -             -             -             -             -             -             -             -             -   -      -      -      -   
Other Items  ssssss
             -
             -              -              -               -             -             -             -             -             -             -             -             -             -             -   -      -      -      -   
Net Income      (28,437)     (89,961)       (1,013)    (175,790)      (29,557)     (1,918)       1,376     18,573        (411)    (20,427)    (29,905)    (39,218)     (2,346)     (1,213)    (16,357)     18,903    (29,078)    (56,725)  (108,890)
Preferred Stock And Other Adjustments               -              -                -               -             -             -             -             -             -             -             -             -             -             -             -             -             -             -
Net Income Applicable To Common Shares      (28,437)     (89,961)       (1,013)    (175,790)      (29,557)     (1,918)       1,376     18,573        (411)    (20,427)    (29,905)    (39,218)     (2,346)     (1,213)    (16,357)     18,903    (29,078)    (56,725)  (108,890)
As a % of Sales -1.2% -4.5% -0.1% -18.7%   -4.8% -0.3% 0.2% 3.1% -0.1% -3.9% -6.7% -7.7% -0.5% -0.2% -4.6% 6.2% -10.0% -26.2% -83.6%
  ssssss                                      
EBITDA ssssss
      59,624
    (20,097)       43,582     (80,736)         6,036     17,342     19,979     10,830     18,262     (7,423)    (17,282)    (10,736)     12,836     10,873     (4,940)     23,061    (18,047)    (46,584)    (39,166)
As a % of Sales 2.5% -1.0% 2.6% -8.6%   1.0% 2.8% 3.4% 1.8% 3.4% -1.4% -3.9% -2.1% 2.5% 2.2% -1.4% 7.6% -6.2% -21.5% -30.1%
                                         
FLTWQ Balance Sheet Fiscal Year (April 30)     Quarter Ending
  2006 2007 2008 ttm   Jul-05 Oct-05 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09
Current Assets                                        
Cash And Cash Equivalents  sssss
    123,141
      52,128       75,052       22,133         2,077 s
            -
s
    63,725
s
   123,141
ss
    39,051
ss
    55,172
ss
      9,722
ss
    52,128
ss
    26,536
s
    47,477
s
    20,089
s
    75,052
    60,698     45,613     22,133
Short Term Investments  sssss
      22,768
      24,161       25,087       25,225       49,402 s
   109,922
s
    18,108
s
    22,768
ss
    23,149
ss
    23,505
ss
    24,005
ss
    24,161
ss
    24,466
s
    24,754
s
    24,990
s
    25,087
    24,959     25,022     25,225
Net Receivables  sssss
    154,493
    131,382     112,795       47,484      232,638 s
   181,690
s
   227,632
s
   154,493
ss
   154,181
ss
   136,306
ss
   139,131
ss
   131,382
ss
   140,432
s
   128,917
s
   127,877
s
   112,795
    93,441    101,876     47,484
Inventory  sssss
    177,832
    174,910     139,813     110,949      188,303 s
   211,604
s
   225,886
s
   177,832
ss
   207,622
ss
   197,382
ss
   198,243
ss
   174,910
ss
   183,809
s
   183,591
s
   183,236
s
   139,813
   159,598    130,413    110,949
Other Current Assets  sssss
      35,698
      11,256       29,836