In 1950, Fleetwood started building house trailers in Paramount, California. Half a century later, we are a $3.7 billion company and a leading producer of quality manufactured homes and recreational vehicles. To a large degree, this growth has been fostered by an entrepreneurial spirit that exists throughout the Company, which stems from our guiding principles. This spirit, and our ability to adapt to changing business conditions, has allowed us to prosper and endure through all kinds of economic cycles. We're looking forward to the challenges and opportunities that the next 50 years will bring.
Financial Highlights | ||||||
| Years ended April | 2000 | 1999 | 1998 | 1997 | 1996 | |
 | ||||||
| DOLLARS IN THOUSANDS EXCEPT PER SHARE DATA | ||||||
| ||||||
| Sales | $3,712,965 | $3,490,163 | $3,050,567 | $2,874,426 | $2,809,277 | |
| Operating income | 162,176 | 190,311 | 170,195 | 139,559 | 131,532 | |
| Income from continuing operations | ||||||
| before taxes | 141,534 | 178,892 | 174,949 | 147,050 | 110,993 | |
| Net income | 83,494 | 107,121 | 108,545 | 124,830 | 79,609 | |
| Earnings per share – diluted: | ||||||
| Continuing operations | 2.41 | 2.94 | 3.01 | 2.30 | 1.50 | |
| Discontinued operations | – | – | – | .89 | .21 | |
| Total | 2.41 | 2.94 | 3.01 | 3.19 | 1.71 | |
| Dividends declared per share | .76 | .72 | .68 | .64 | .60 | |
| Shareholders’ equity | 584,805 | 586,703 | 376,026 | 443,095 | 649,137 | |
| Return on shareholders’ equity | 14.3% | 22.3% | 26.5% | 22.9% | 12.7% | |
