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Five Star Advantage Extended to Starcraft RV Dealers

April 26, 2002 by · Leave a Comment 

The Five Star Advantage special retail financing package now is available to dealers selling Starcraft RV Inc. products, according to Firstar Bank and U.S. Bank, the lenders offering the Five Star Advantage program. Late last year, Firstar and U.S. Bank, both units of Minneapolis-based U.S. Bancorp, began offering the Five Star Advantage package to dealers selling units built by Jayco Inc., Middlebury, Ind. Starcraft RV, Topeka, Ind., and Jayco are affiliates. The two corporations are legally distinct... Read more

Cummins Reports First Quarter Loss

April 26, 2002 by · Leave a Comment 

Cummins Inc., supplier of diesel engines and Onan generators to RV industry customers, reports it lost $29 million during the first quarter, but Chairman Tim Solso believes “the worst is behind us.” The loss during the three months ended March 31 compares with a loss of $26 million incurred during the first three months of 2001. Cummins, which also owns RV manufacturer Swagman Motor Homes Pty. of Australia, reports its total sales declined 1% during the first quarter to $1.33 billion. Its engine... Read more

El Monte RV Partners with USC

April 26, 2002 by · Leave a Comment 

Rental firm El Monte RV has partnered with the University of Southern California (USC) to offer the first “premier tailgate package” in the industry. El Monte RV, which, in the last five years, has changed its focus from primarily serving tourists from abroad to serving mainly domestic customers, also is pursuing other “college athletic tailgate partnerships that fit with El Monte RV’s long-standing tradition of supporting athletics and key sporting events,” said Joe Laing, director of... Read more

Economy Grows but Consumer Sentiment Declines

April 26, 2002 by · Leave a Comment 

The U.S. economy grew at an unexpectedly robust rate during the first quarter but consumer sentiment weakened in April. The Commerce Department reported today (April 26) that the economy, as measured by the gross domestic product (GDP), surged ahead at a 5.8% rate of growth during the first three months of this year, the fastest growth rate since the fourth quarter of 1999. The unexpectedly strong first quarter growth rate follows the sluggish 1.7% rate of growth during the fourth quarter of 2001. Meanwhile,... Read more

Spartan Motors Earnings Up 126%

April 25, 2002 by · Leave a Comment 

Exceptionally strong growth in demand for diesel pusher chassis helped Spartan Motors Inc.’s first quarter net earnings to grow by 126%, the Charlotte, Mich.-based company announced today (April 25). Spartan earned $3.3 million during the three months ended March 31, compared with $1.5 million earned during the first three months of 2001. Spartan’s motorhome chassis sales grew nearly 39% during the first quarter and President and COO John Sztykiel said, “Since the RVIA show last fall, the... Read more

Monaco Reports Sharply Higher Sales/Earnings

April 25, 2002 by · Leave a Comment 

Monaco Coach Corp. reports its first quarter net earnings soared 86% higher and its sales revenue climbed 39%. The New York Stock Exchange-listed company earned $9.7 million during the three months ended March 30, compared with $5.2 million earned during the first three months of 2001. Monaco’s first quarter sales revenue totaled $293.6 million, compared with $211.2 million a year earlier. The Coburg, Ore.-based company built a total of 2,692 motorhomes and towable RVs during the first three months... Read more

Higher Gas Prices Not Hurting RV Rentals

April 25, 2002 by · Leave a Comment 

Gasoline prices climbed sharply in March but the higher cost for gas is not hurting RV rental reservations for this summer, according to spokesmen for Cruise America and El Monte RV, the two largest RV rental firms. It appears that gas prices have now plateaued around the current national average of $1.41 a gallon for self-serve regular and gas prices will not dampen the demand for RV rentals unless they go significantly above the current level, said Joe Laing, El Monte’s marketing director. Each... Read more

Spartan Stock Reaches New High

April 25, 2002 by · Leave a Comment 

Spartan Motors Inc. stock climbed to a new 52-week high today (April 25) after the company reported that its first quarter earnings more than doubled. Spartan stock climbed as high as $11.50 a share today, surpassing its previous 52-week high of $10.91. The Nasdaq Stock Market-traded company’s stock closed at $11.48, up $1.07, or 10%, for the day. Spartan supplies diesel pusher chassis to motorhome manufacturers and it produces fire truck chassis, fire trucks and emergency rescue vehicles. Monaco... Read more

Kemlite Sales Improve

April 24, 2002 by · Leave a Comment 

Fiberglass reinforced panels (frp) supplier Kemlite helped boost first quarter profit margins within the Engineered Materials division of its parent, Crane Co. of Stamford, Conn. The first quarter operating profit at Crane’s engineered materials division increased 31% to $11 million, an improvement that was “driven by Kemlite’s increased shipments to the RV market,” according to Crane, a New York Stock Exchange-listed firm. The engineered materials division’s order backlog also was 6% higher... Read more

Drew Reports Loss Due to Accounting Change

April 24, 2002 by · Leave a Comment 

RV and manufactured housing industry supplier Drew Industries Inc. reported a $26.4 million loss for the first quarter because it took an after tax $30.1 million non-cash charge against earnings for accounting technicalities. Without the $30.1 million charge, taken for goodwill impairment, Drew would have reported a $3.5 million net profit for the three months ended March 31. Meanwhile, Drew, parent of towable RV chassis supplier Lippert Components and doors and windows supplier Kinro, reports its... Read more

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