March 11, 2005 Cavalier reports profits for 2004, credits FEMA purchases Manufactured home maker Cavalier Homes Inc. is reporting profits for both the fourth quarter and full year ended Dec. 31, 2004, due in large part to late-year shipments the Addison company provided the Federal Emergency Management Agency for hurricane-ravaged Florida.
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"We think these results demonstrate, to some extent, our efforts over the past several years to right-size our company for the tough conditions that we have experienced - and continue to experience - in the marketplace," Cavalier's president and chief executive David Roberson said in a written statement.
Fourth quarter revenue increased 36 percent to $76 million compared to $56 million in fourth quarter 2003. The boost is attributed to a 38 percent increase that quarter in manufactured home sales to $73.43 million from $53.18 million one year ago.
Meanwhile, shipments for the quarter increased 30 percent to 3,353 units from 2,576 the same period one year ago, indicating a 2 percent comparable increase excluding the 714 units shipped under the FEMA agreement
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