Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, September 1, 1994 TAG: 9409010072
SECTION: BUSINESS PAGE: B8 EDITION: METRO
SOURCE: MAG POFF STAFF WRITER
DATELINE: LENGTH: Medium
Also Wednesday, the plant's parent company, Fleetwood Enterprises Inc. of Riverside, Calif., announced record earnings for the first quarter, which ended July 31.
Lyle N. Larkin, spokesman for the parent company, said Wednesday that Fleetwood overall has a fairly high level of employment that has increased over the last year. But, he said, situations differ at Fleetwood's more than 50 locations throughout the nation.
Gary Clark, who became general manager of the Rocky Mount plant two weeks ago, said he could not estimate the number of people who will be laid off. The furloughs are effective today.
Company managers did not know the number affected, "and even if they did, they wouldn't tell you," Larkin said. He added the company wanted to notify workers that they were being laid off before announcing a number affected.
The company has about 285 workers at Rocky Mount. Some people on both shifts will be affected, according to Clark.
The decision to go to a single shift was not caused by lack of orders or the economy, Clark said. He called the move a restructuring caused by business considerations.
The plant is a leading manufacturer of housing and recreational vehicles.
Fleetwood reported first-quarter earnings of $29.2 million or 63 cents a share of common stock compared with $13.6 million or 30 cents a share a year earlier. Revenues for the quarter were $764.3 million, up 42 percent from $537.4 million a year earlier.
Housing revenues jumped 55 percent to $351.9 million in the quarter, up from $227.6 million in last year's quarter. The company sold 18,359 homes, up 49 percent.
Revenue from recreational vehicles reached a first-quarter high of $389.9 million, a 32 percent increase from $294.3 million in the prior year.
by CNB