On Thursday, Dec. 7, RV and manufactured-home producer Fleetwood Enterprises (NYSE:FLE) released Q2 2007 earnings for the period ended Oct. 29. Here are the quick and dirty details for the quarter.

  • Sales fell 16.4%. Reasons cited were slowness in motor and manufactured home sales and a tough comparison, as last year's quarter included approximately $60 million in Gulf Coast hurricane relief rebuilding efforts.

  • Diluted earnings loss was $0.32 per diluted share, which included some severance and discontinued operations charges.

  • Management expects third-quarter results to be weaker than the just-completed second quarter.

(Figures in thousands, except per-share data)

Income Statement Highlights

Avg. Est.

Q2 2007

Q2 2006

Change

Sales

$465,720

$526,573

$629,501

(16.4%)

Net Profit

--

($20,427)

($1,918)

N/A

EPS

($0.26)

($0.32)

($0.03)

N/A

Diluted Shares

--

63,919

57,209

11.7%



Get back to basics with a look at the income statement.

Margin Checkup

Q2 2007

Q2 2006

Change*

Gross Margin

13.96%

17.79%

(3.83)

Operating Margin

(3.80%)

0.64%

(4.44)

Net Margin

(3.88%)

(0.30%)

(3.58)

*Expressed in percentage points.

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q2 2007

Q2 2006

Change

Cash + ST Invest.

$78,677

$108,945

(27.8%)

Accounts Rec.

$136,306

$181,690

(25%)

Inventory

$197,382

$211,604

(6.7%)



Liabilities

Q2 2007

Q2 2006

Change

Accounts Payable

$59,411

$83,232

(28.6%)

Long-Term Debt

$264,502

$336,649

(16.1%)



Learn the ways of the balance sheet.

Cash Flow Highlights

Fools will have to wait until Fleetwood files its 10-Q for juicy cash flow details.

Find out why Fools always follow the money.

Comparable companies:

  • Champion Enterprises (NYSE:CHB)
  • Winnebago (NYSE:WGO)
  • Monaco Coach (NYSE:MNC)
  • Thor Industries (NYSE:THO)

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Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.

Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. Feel free to email him with feedback or to discuss any companies mentioned further. The Fool has an ironclad disclosure policy.