Business Services Industry
This Just In.(manufactured-home industry)
Crain's Detroit Business, April, 2003
Champion says no profit in the cards for this year Auburn Hills-based Champion Enterprises Inc. said full-year profitability is unlikely as the manufactured-home industry continues to languish from reduced sales and financing availability. Champion (NYSE: CHB) reported a first-quarter net loss of $24 million or 52 cents a share on revenue of $245 million, compared with a net loss of $12 million or 25 cents on revenue of $306 million for the same period last year.
In a conference call last week, Chairman and CEO Walter Young said the company is hoping for brighter days as the warm months bring its busy sales season but said multiple problems continue to plague the industry. Those include reduced availability of consumer financing from lenders, a high...
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