Champion Enterprises posts wider Q1 loss on charges

(Reuters) - Champion Enterprises Inc CHB.N, a maker of factory-built houses, posted a wider first-quarter net loss, hurt by restructuring charges and weakness in U.S. housing markets.

The company, which operates 33 manufacturing facilities in North America and the United Kingdom, posted a net loss of $20.5 million, or 26 cents a share, compared with a net loss of $7.2 million, or 9 cents a share, a year earlier.

Sales rose 14 percent to $296.7 million, driven a 137 percent growth in sales at its international manufacturing segment.

Analysts on average expected the company to post a loss of 3 cents a share, before items, on revenue of $273.2 million, according to Reuters Estimates.

Troy, Michigan-based Champion Enterprises recorded charges of $9.8 million related to restructuring of its North American manufacturing operations and closure of two facilities.

Sales from the North American manufacturing segment fell 9 percent to $181.5 million in the first quarter.

"While the quarter's results clearly show the difficulties we continue to face in the U.S., we remain cautiously optimistic that conditions will improve as 2008 unfolds," Chief Executive William Griffiths said in a statement.

(Reporting by Dilipp S. Nag in Bangalore; Editing by Vinu Pilakkott)