warned today it expects to report a wider-than-expected first-quarter loss that it blamed on a seasonal downturn, a slowing economy and the effects of last year's over-expansion.
The mobile home maker estimates a loss of 40 cents to 45 cents a share, while three analysts surveyed by
First Call/Thomson Financial
were expecting, on average, a loss of 30 cents a share. In the year-ago period, Champion reported earnings of 3 cents a share.
Champion expects to post first-quarter revenue of $320 million, down from $519.5 million in the same period last year.
The company, which is based in Auburn Hills, Mich., also said retail sales appear to be down roughly 30% in its first quarter.
Shares of Champion were down 19 cents, or 3.6%, to $5.16 in recent
New York Stock Exchange