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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

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

ASA Audiovox Opens Oregon Warehouse

April 24, 2002 by · Leave a Comment 

Mobile electronics supplier/distributor ASA Audiovox Specialized Applications, Elkhart, Ind., has opened a new distribution center in Portland, Ore. “The expansion of our distribution network into the Pacific Northwest means we now will be able to provide our customers in this region with much quicker, and just as importantly, less expensive delivery service when they order,” said Brent Barrow, president. ASA will stock its complete line of electronics for the RV, marine, truck, bus and van conversion... Read more

Feds to Begin National Monument Use Planning

April 24, 2002 by · Leave a Comment 

U.S. Secretary of the Interior Gale Norton announced today (April 24) her intention to develop plans to manage the 15 national monument lands designated at the end of the Clinton Administration. Of the 15 properties, 13 are in Western states and two are in the U.S. Virgin Islands in the Caribbean. The new monument areas include 4.7 million acres, according to CNN.COM. The planning process is important to the RV industry because access to public lands is vital to encouraging the use of RVs, according... Read more

Drew Stock Closes Sharply Higher

April 24, 2002 by · Leave a Comment 

Even though it reported a $26.4 million first quarter net loss today (April 24) due to an accounting technicality, the price of Drew Industries Inc. stock climbed $2.09 a share, or 16.5%, higher to close at $14.79. Drew’s stock price increased, most likely, because — excluding the impact of a $30.1 million non-cash charge to account for goodwill impairment — its first quarter profits increased almost fourfold. The supplier to the RV and manufactured housing industries earned $3.5 million... Read more

National RV Losses Expand

April 23, 2002 by · Leave a Comment 

National RV Holdings Inc. reported its first quarter net loss expanded despite a 27% increase in sales revenue. The Perris, Calif.-based company lost $3.3 million during the three months ended March 31, compared with a $1.9 million loss incurred during the first three months of 2001. National RV’s sales during the first quarter totaled $79.3 million, compared with $62.4 million a year earlier. “We are not satisfied with our first quarter performance,” said Brad Albrechtsen, president and CEO. Manufacturing... Read more

National RV Losses Expand

April 23, 2002 by · Leave a Comment 

National RV Holdings Inc. reported its first quarter net loss expanded despite a 27% increase in sales revenue. The Perris, Calif.-based company lost $3.3 million during the three months ended March 31, compared with a $1.9 million loss incurred during the first three months of 2001. National RV’s sales during the first quarter totaled $79.3 million, compared with $62.4 million a year earlier. “We are not satisfied with our first quarter performance,” said Brad Albrechtsen, president and CEO. Manufacturing... Read more

National RV Sees 2nd Half Profitability

April 23, 2002 by · Leave a Comment 

National RV Holdings Inc. lost $3.3 million during the first quarter but the company believes it will make “progress towards breakeven in the second quarter and a return to profitability in the second half of 2002,” according to Brad Albrechtsen, president and CEO. National RV’s sales revenue increased 27% during the three months ended March 31 to $79.3 million. Included in the growth was a 14% increase in sales revenue at its County Coach highline motorhome subsidiary and a 45% increase in... Read more

Patrick Returns to Profitability

April 23, 2002 by · Leave a Comment 

Supplier/distributor Patrick Industries Inc. returned to profitability during the first quarter, earning $270,000 during the three months ended March 31. In comparison, the Elkhart, Ind.-based firm lost $1.7 million during the first quarter of 2001. Patrick also lost $3.5 million during the fourth quarter and $5.8 million during the full year 2001. The company returned to profitability largely because of increases in production of manufactured homes and RVs, Patrick’s two biggest groups of customers.... Read more

Patrick Returns to Profitability

April 23, 2002 by · Leave a Comment 

Supplier/distributor Patrick Industries Inc. returned to profitability during the first quarter, earning $270,000 during the three months ended March 31. In comparison, the Elkhart, Ind.-based firm lost $1.7 million during the first quarter of 2001. Patrick also lost $3.5 million during the fourth quarter and $5.8 million during the full year 2001. The company returned to profitability largely because of increases in production of manufactured homes and RVs, Patrick’s two biggest groups of customers.... Read more

Towables Retail Up Sharply in Feb.

April 23, 2002 by · Leave a Comment 

Retail sales of towable RVs were up sharply in February, ranging from 26.7% to 5.5% higher, depending on the product type, according to Statistical Surveys Inc., an independent market research firm. The biggest increase was in travel trailers, the largest product type within the towable RV category. Retail sales of travel trailers soared 26.7% higher in the 48 states from which Statistical Surveys was able to gather data in February, to 6,715 units. In comparison, dealers in the same 48 states sold... Read more

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