Monaco Reports Lower Earnings Despite Higher Sales

Wholesale and retail incentive programs intended to encourage sales in a soft market contributed to Monaco Coach Corp. reporting lower fourth quarter and full year 2000 earnings, despite higher sales volumes. The Coburg, Ore.-based company earned $42.5 million last year, a 3% decrease from the $43.8 million it earned during 1999. During the fourth quarter, Monaco’s earnings declined 23% to $8.6 million. However, Monaco’s full year 2000 sales revenue increased 16% to $901.9 million and its fourth... Read more

Rec. USA Has Profitable Tampa Show

Retail dealership chain Holiday RV Superstores Inc., which does business as Recreation USA, reports its profit margins on sales during this year’s Florida RV SuperShow were wider than they were during last year’s version of the Tampa show. “Traffic was good during the show and we were able to achieve significant improvements to our margins, especially finance and insurance, compared with the 2000 show,” said Ron Huneycutt, president and CEO. Recreation USA occupied the largest amount... Read more

Nasdaq Plunges, RV Shares Mixed

The Nasdaq composite plunged 105 points, or 3.7%, Thursday despite Fed Chairman Alan Greenspan’s statement in support of tax cuts and his suggestion that the Fed will lower interest rates again next week. Greenspan told the Senate Budget Committee today (Jan. 25) that economic growth has basically stopped. This led many bankers to assume the Fed will lower interest rates when it meets next Tuesday and Wednesday (Jan. 30-31). Some bankers now believe the Fed will cut rates 0.5% next week, which... Read more

RV Shares Mixed, Broader Market Flat

The stock market was aimless Wednesday due to a mixed bag of earnings reports and RV company shares were mixed. The Nasdaq composite index gained 19 points, or 0.7%, while the Dow Jones Industrial Average slipped 3 points, or 0.03%, on Wednesday. Among RV stocks, Coachmen rebounded from Tuesday’s big loss. On Wednesday, Coachmen stock climbed 15/16, or 9%, to close at 11 1/16. National RV also had a good day, gaining 3/4, or 6%, to close at 12 3/4. Here is a roundup of the other RV company stock... Read more

National RV Switches to Late Night Production

Perris, Calif.-based National RV Holdings Inc. is one the six largest companies in the RV industry, and most of its production employees are working late at night so the company could avoid the power blackouts or brownouts that are now plaguing California. The workday for about 700 of National RV’s employees now begins at 10 p.m. and they go home at 6 a.m., said Joe McDermott, director of sales and marketing. “With the unshipped orders we have, shutting down production would have been comparable... Read more

Nasdaq Surges, RV Shares Mixed

The Nasdaq composite index surged 82 points, or 3%, on Tuesday in part because Compaq Computer reported it is comfortable with Wall Street’s estimates for its year 2001 earnings. Meanwhile, the Dow Jones Industrial Average climbed 72 points, or 0.7%, but RV stocks were mixed on Tuesday. Among RV stocks, both Coachmen and Thor took it on the chin. Coachmen declined 7/8, or 8%, to close at 10 1/8 and Thor lost 1 7/8, or 7%, to close at 23 11/16. Monaco also declined 3/4, or 4%, to close at 20. Heading... Read more

AG Edwards Lowers Its Monaco Earnings Estimate

Although investment firm AG Edwards & Sons believes Monaco Coach Corp. will increase its Class A motorhome market share this year, it has lowered its year 2001 earnings estimate for the company. AG Edwards now believes Monaco will earn $1.96 per share during 2001. Earlier, it estimated Monaco would earn $2.40 a share this year. The investment firm surveyed 45 RV dealers during December and a significant number reported that retail demand fell-off sharply late last year. AG Edwards does not believe... Read more

Gulf Stream Launches Internet Contest

Gulf Stream Coach Inc. plans to give away a Class A motorhome and a travel trailer in a contest that is intended to attract more viewers to its Web site and dealerships, according to Brian Shea, president. The contest was launched last week during the Florida RV Supershow in Tampa. Information about the contest is found on the www.winrv.com Web site, which is hot-linked to Gulf Stream’s site, www.gulfstreamcoach.com. Interested persons can register for the contest online on the Gulf Stream site,... Read more

Dura Issues Earnings Warning

Dura Automotive Systems Inc., parent of RV industry supplier firm Atwood Mobile Products, warned Wall Street today (Jan. 22) that its fourth quarter earnings would be well below market analysts’ expectations. The Nasdaq Stock Market listed company believes its fourth quarter earnings will range from 15 to 20 cents a share. Wall Street had estimated Dura would earn 68 to 85 cents a share during the fourth quarter. Dura announced during November that it would close an RV components plant in Elkhart,... Read more

Stock Market Closes Lower, RV Shares Mixed

The Nasdaq composite’s brief winning streak ended Monday as it closed down 12 points, or 0.5%. Meanwhile, the Dow Jones Industrial Average slipped 9 points, or 0.1%, on Monday. Among RV stocks, Coachmen gave back most of last week’s gains. It declined 1 1/16, or 9%, on Monday to close at 11. Heading in the opposite direction was SMC, which closed above 3 for the first time in months. It gained 11/16, or 29%, to close at 3 1/16. Here is a roundup of the other RV company stock activity on Monday: Fleetwood... Read more

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