Third Quarter and Nine-Month Results to Be Released Before Market Opens
RIVERSIDE, Calif., Feb. 25 /PRNewswire-FirstCall/ -- Fleetwood
Enterprises, Inc. (NYSE: FLE), the nation's largest manufacturer of
recreational vehicles and a leading producer and retailer of manufactured
housing, will host a conference call to discuss the results for its fiscal
third quarter ended January 23, 2005. The Company will release its results
and file its 10-Q before market on the same day.
The call will be held on Thursday, March 3, 2005, at 10:30 a.m. Pacific
Daylight Time, and will be broadcast live over the Internet at
http://www.streetevents.com, http://www.fulldisclosure.com, and the Company's website,
http://www.fleetwood.com, under Company Information.
Fleetwood had previously announced that it would hold an additional
conference call when an agreement was reached with the lending syndicate on
its secured credit facility. Because the discussions with the bank group
provided an opportunity to incorporate additional changes to the credit
facility beyond simply amending the EBITDA covenant, the amendment has not yet
been completed. Management has been advised by Bank of America, as agent for
the syndicate, that an amendment will be executed before the announcement of
results next Thursday. The amendment will, at a minimum, address the covenant
issue, and negotiations have also included a request for greater seasonal
flexibility under the line. However, because the timing of the two events
will now nearly coincide, the conference call on March 3 will address both the
lending agreement and the quarterly results.
About Fleetwood
Fleetwood Enterprises, Inc., is one of the nation's largest producers of
recreational vehicles, from motor homes to travel and folding trailers, and is
a leader in the building, retailing and financing of manufactured homes. This
Fortune 1000 company, headquartered in Riverside, Calif., is dedicated to
providing quality, innovative products that offer exceptional value to its
customers. Fleetwood operates facilities strategically located throughout the
nation, including recreational vehicle and manufactured housing plants, retail
home centers, and supply subsidiary plants. For more information, visit the
Company's website at http://www.fleetwood.com.
This press release contains certain forward-looking statements and
information based on the beliefs of Fleetwood's management as well as
assumptions made by, and information currently available to, Fleetwood's
management. Such statements reflect the current views of Fleetwood with
respect to future events and are subject to certain risks, uncertainties, and
assumptions, including risk factors identified in Fleetwood's 10-K and other
SEC filings. These risks and uncertainties include, without limitation, the
cyclical nature of both the manufactured housing and recreational vehicle
industries; ongoing weakness in the manufactured housing market; continued
acceptance of the Company's products; the potential impact on demand for
Fleetwood's products as a result of changes in consumer confidence levels; the
effect of global tensions on consumer confidence; expenses and uncertainties
associated with the introduction and manufacturing of new products; the future
availability of manufactured housing retail financing, as well as housing and
RV wholesale financing; exposure to interest rate and market changes affecting
certain of the Company's assets and liabilities; availability and pricing of
raw materials; changes in retail inventory levels in the manufactured housing
and recreational vehicle industries; competitive pricing pressures; the
ability to attract and retain quality dealers, executive officers and other
personnel; and the Company's ability to obtain financing needed in order to
execute its business strategies, including its ability to negotiate amendments
or modifications to its existing credit facilities.
For further information, please contact: Lyle Larkin, Vice President &
Treasurer, +1-951-351-3535, or Kathy A. Munson, Director - Investor Relations,
+1-951-351-3650, both of Fleetwood Enterprises, Inc.
SOURCE Fleetwood Enterprises, Inc.
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Related links:
http://www.fleetwood.com
CONTACT:
Lyle Larkin, Vice President & Treasurer,
+1-951-351-3535, or Kathy A. Munson, Director - Investor
Relations, +1-951-351-3650, both of Fleetwood Enterprises, Inc.
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