Holiday RV Expects $15.7 million Loss
Dealership chain Holiday RV Superstores Inc. expects to report a net loss of around $15.7 million for its fiscal year 2002, which ended Oct. 31, according to a Securities & Exchange Commission (SEC) filing by the company.
Today (Jan. 31) is the deadline for Holiday RV, a Nasdaq Stock Market-listed company, to file a full financial report with the SEC. However, the company informed the SEC that it could not file its full report on time without “unreasonable effort or expense.”
Consequently, the company was given until Feb. 15 to file its full report.
But Holiday RV stated in its SEC filing that it expects to post a net loss of $15.7 million on sales of around $78.3 million for the 12 months ended Oct. 31.
During the 12 months ended Dec. 31, 2001, Holiday RV incurred a net loss of $18 million on $134.1 million in sales.
For the August-through-October portion of last year, the fourth quarter its fiscal year 2002, the company expects to report a net loss of $1.8 million on sales of around $17.1 million.
During the fourth quarter, Holiday RV incurred a net loss of $10.3 million in sales of around $23.4 million.
Holiday RV’s fourth fiscal quarter and fiscal year 2002 losses are smaller because it closed several money-losing locations during the past year. Its fiscal 2002 sales revenue figures also are sharply lower because of the sale or closure of several locations.