Palm Harbor Homes 4Q loss widens on charges

Palm Harbor Homes Inc., which produces factory-built homes, on Tuesday reported a wider 2008 fiscal fourth-quarter loss on restructuring charges for the closing of three factories and 18 retail centers as the housing market continues its slump.

The company lost $12.7 million, or 55 cents per share, compared with a loss of $7.2 million, or 32 cents per share. Excluding restructuring charges, the company said it lost 19 cents per share.

Revenue fell 7 percent to $126.5 million from $135.9 million.

The company's fiscal fourth quarter and year ended March 28.

Analysts polled by Thomson Financial expected a loss of 34 cents per share.

For the full year, the company lost $124.3 million, or $5.44 per share, compared with a loss of $11.7 million, or 51 cents per share, a year prior. Revenue fell to $555.1 million from $661.2 million.

Shares of Palm Harbor fell 27 cents, or 4 percent, to $6.62 in after-hours trading after rising 3 cents to close at $6.89 during the regular trading session.