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Patrick Losses Narrow

April 27, 2001 by · Leave a Comment 

RV industry supplier\OEM distributor Patrick Industries Inc. reported its first quarter losses narrowed to $1.7 million, compared with $4.6 million loss during the first three months of 2000. The company’s first quarter sales declined 32% to $68.3 million primarily because manufactured home production volume was down about 40% and total RV output was down around 25% during the first three months of this year, said David Lung, president and CEO.  Read More →

Drew Reports Lower Sales and Earnings

April 26, 2001 by · Leave a Comment 

Drew Industries Inc., parent of RV industry supplier firms Lippert and Kinro, reported its first quarter total sales declined 21% despite a 5% increase in RV industry revenue. The company’s first quarter sales totaled $58.9 million and its net earnings during the three months ended March 31 declined 69% to $867,000. Drew’s total first quarter sales declined because of sharply lower manufactured housing industry production volumes. Manufactured homes is the other industry Drew supplies. The company’s... Read more

Drew Reports Lower Sales and Earnings

April 26, 2001 by · Leave a Comment 

Drew Industries Inc., parent of RV industry supplier firms Lippert and Kinro, reported its first quarter total sales declined 21% despite a 5% increase in RV industry revenue. The company’s first quarter sales totaled $58.9 million and its net earnings during the three months ended March 31 declined 69% to $867,000. Drew’s total first quarter sales declined because of sharply lower manufactured housing industry production volumes. Manufactured homes is the other industry Drew supplies. The company’s... Read more

Broader Market Mixed, Most RV Shares Gain

April 26, 2001 by · Leave a Comment 

The Dow Jones Industrial Average gained while the Nasdaq composite declined on Thursday as investors started worrying again about future tech sector profits. However, most RV company stock prices climbed. The Dow gained 67 points, or 0.6%, while the Nasdaq dipped 25 points, or 1.2%, on Thursday. Among RV company stocks, Spartan Motors, a supplier of diesel engine chassis to Class A motorhome builders, saw its stock price climb 54 cents, or 20%, to close at $3.29, after reporting better than expected... Read more

Broader Market Mixed, Most RV Shares Gain

April 26, 2001 by · Leave a Comment 

The Dow Jones Industrial Average gained while the Nasdaq composite declined on Thursday as investors started worrying again about future tech sector profits. However, most RV company stock prices climbed. The Dow gained 67 points, or 0.6%, while the Nasdaq dipped 25 points, or 1.2%, on Thursday. Among RV company stocks, Spartan Motors, a supplier of diesel engine chassis to Class A motorhome builders, saw its stock price climb 54 cents, or 20%, to close at $3.29, after reporting better than expected... Read more

Model Year 2002 Starts Early at Some Firms

April 26, 2001 by · Leave a Comment 

The slowing economy has led a handful of RV manufacturers to try to boost sales by getting model year 2002 off to an early start. Monaco Coach Corp. and Newell Coach Corp. introduced model year 2002 units at the Family Motor Coach Association (FMCA) Winter Convention in Oklahoma City earlier this month. Meanwhile, National RV Holdings Inc. will introduce the 2002 Sea View gas Class A motorhome in May. Newmar Corp. also began model 2002 before the traditional July 1 start date, but President Virgil... Read more

Spartan Motors Reports Lower Sales and Earnings

April 26, 2001 by · Leave a Comment 

Diesel pusher motorhome chassis supplier Spartan Motors Inc. reported its first quarter sales declined 24% and its earnings were down 25%. The company earned $1.5 million on sales of $58.7 million during the three months ended March 31. Spartan’s first quarter earnings is equivalent to 14 cents a share, which beat the forecast by the Red Chip Review of investment analysts, which expected Spartan to earn 9 cents a share. The company reported lower total sales because of weak demand for its motorhome... Read more

Wall Street Losing Streak Snapped, Most RV Shares Gain

April 25, 2001 by · Leave a Comment 

Wall Street snapped its three-session losing streak with gains on Wednesday that came after some companies reported unexpectedly strong earnings. The Nasdaq composite offset Tuesday’s 43-point loss with a 43-point, or 2.1%, gain on Wednesday, while the Dow Jones Industrials Average climbed 171 points, or 1.6%, on Wednesday. RV company stocks benefiting the most on Wednesday were Fleetwood, which gained 90 cents, or 8%, to close at $11.95, and Featherlite, which climbed 22 cents, or 13%, to close... Read more

Cummins’ Credit Maxed-out, Seeks Indiana Loan

April 25, 2001 by · Leave a Comment 

Diesel engine and electric power generator supplier Cummins Inc. has maxed-out its credit lines, which explains why the company is seeking financial assistance from the Indiana and New York state governments, according to the Indianapolis Star newspaper. Cummins is asking the Indiana Legislature to provide collateral for a $35 million loan that Cummins needs to continue an R&D effort to develop a medium-bore engine that will satisfy federal emission standards scheduled to take effect in 2002,... Read more

Jacques Leaves SMC, Joins National RV

April 25, 2001 by · Leave a Comment 

Mike Jacques has left his position as president of high-line Class A motorhome builder SMC Corp. to join motorhome and towable RV builder National RV Holdings Inc. Jacques now is the vice president of sales and marketing at the Perris, Calif.-based National RV subsidiary of National RV Holdings. His appointment was part of another restructuring of the company’s management team that included the elimination of the recently created Office of Chief Executive. The restructuring includes giving National... Read more

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