missed fourth-quarter targets and warned of continuing softness in the motor home business.
The Forest City, Iowa, company made $9.3 million, or 30 cents a share, for the quarter ended Aug. 26, down from the year-ago $15.4 million, or 46 cents a share. Revenue fell to $205 million from $231 million a year earlier.
Analysts surveyed by Thomson Financial were looking for a 40-cent profit on sales of $231 million.
The company said the latest quarter was hit by a shift to lower-priced so-called Class C motor homes. The company said its market share in that category rose to 25% from 19% a year ago.
"The recent decline in fuel prices and the pause in interest-rate hikes by the
suggests more positive economic conditions going forward," said CEO Bruce Hertzke. "We do not currently, however, see an immediate change in motor-home buying patterns, and anticipate continued softness throughout our first and second fiscal quarters."