DOW JONES NEWSWIRES
Champion Enterprises Inc.'s (NYSE:CHB) (CHB) first-quarter loss widened to $20.5 million, or 26 cents a share, from $7.2 million, or 9 cents a share, in the prior-year period, due in part to a pretax charge of $9.8 million for the reorganization of its North American manufacturing operations.
Current-quarter results were also affected by $2.3 million in foreign-currency transaction losses on intercompany loans and an expense of $1.8 million for the reduced value of inventory.
The Troy, Mich., factory-built construction company's revenue rose 14% to $ 296.7 million from $259.8 million last year, boosted by international segment sales.
Analysts polled by Thomson Financial expected, on average, a per-share loss of 3 cents on revenue of $273 million.
Shares in Champion Enterprises (NYSE:CHB) were halted after hours at $10.32. The company closed the regular session up 24 cents, or 2.4%, at $10.32.
-Adam O. Manzor; 201-938-5400; AskNewswires@dowjones.com
(END) Dow Jones Newswires 04-15-08 1726 Copyright (c) 2008 Dow Jones & Company, Inc.
