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Weak Demand Triggers Coachmen 4Q Loss

January 31, 2007 by · Leave a Comment 

Eroding demand in its core markets contributed to a $30.9 million net loss for Coachmen Industries Inc. during the company’s fourth quarter, ended Dec. 31. “In 2006, we encountered contracting markets in both of our industry segments for the second consecutive year, representing the most difficult markets we’ve faced since 1989,” said CEO Rick Lavers, who took the position when Claire Skinner, daughter of co-founder Tom Corson, elected for early retirement last August. “The overall... Read more

Longtime, Family-Owned Ark. Dealer Sold

January 31, 2007 by · Leave a Comment 

Crain Automotive Holdings LLC, which has recently bought several auto dealerships in central Arkansas, on Tuesday (Jan. 31) announced the purchase of Camper Capps in Little Rock, which will be renamed Crain RV. According to a report by Arkansas Business, the Capps family operated the RV dealership for 35 years. A purchase price was not disclosed. Crain said it expects to announce additional central Arkansas dealership acquisitions during the month of February. Since November, the company has bought... Read more

Industry Analysts Weigh in on Thor News

January 31, 2007 by · Leave a Comment 

Shares of Jackson Center, Ohio-based Thor Industries Inc. tumbled Tuesday (Jan. 31) after the recreational vehicle and commercial bus maker said it may need to restate two years of financial results due to accounting issues at a subsidiary. Thor’s board audit committee and independent outside advisers are investigating Goshen, Ind.-based subsidiary Dutchmen Manufacturing Inc.’s inventory, accounts receivable, accounts payable and cost of goods sold. Analyst John Diffendal of BB&T... Read more

Register Guard: Riley Meets with National RV

January 31, 2007 by · Leave a Comment 

The last time Los Angeles investment banker Bryant Riley tried to take over financially ailing National RV Holdings Inc., executives of the parent company of Country Coach Inc. and National RV Inc. emphatically rejected what they considered to be a lowball bid. The Register Guard, Junction City, Ore., reported that Riley, who is National RV’s single largest shareholder, is back and has entered into confidential talks with the company’s executives and board members about ways to turn the... Read more

Fed Holds Rates, Inflation Still a Concern

January 31, 2007 by · Leave a Comment 

The Federal Reserve, faced with a strongly rebounding economy, left interest rates unchanged on Wednesday (Jan. 31) while repeating concerns about inflation. The Associated Press reported that the central bank voted to leave the federal funds rate, the interest that banks charge each other, at 5.25%, where it has been since last June. That decision had been widely expected given an economy that is exhibiting better-than-expected growth. While the Fed had been expected to start cutting rates later... Read more

Thor Probes Dutchmen Accounting Issues

January 30, 2007 by · Leave a Comment 

Jackson Center, Ohio-based Thor Industries Inc. said late Monday (Jan. 29) it may need to restate financial statements going back to 2004, as it probes accounting at a subsidiary. The company said its board’s audit committee and independent outside advisors are looking at its Goshen, Ind.-based Dutchmen Manufacturing Inc. subsidiary’s inventory, accounts receivable, accounts payable and cost of goods sold. It has voluntarily informed the Securities and Exchange Commission (SEC) of the... Read more

Advanced Tomato Growing Secrets- Your Questions Answered

January 30, 2007 by · Leave a Comment 

A study that could result in the closure of campgr Advanced Tomato Growing Secrets- Your Questions Answered ounds and other facilities in the country’s national forests will be opened to greater public scrutiny, according to the U.S. Forest Service. The Aspen (Colo.) Times reported that the agency won’t make any decisions on closures for the next two months so an internal “review team” can assess how to broaden citizen involvement in the process, according to Joel Holtrop,... Read more

Crane Co. Reports Higher 4Q Sales, Profits

January 30, 2007 by · Leave a Comment 

Stamford, Conn.-based Crane Co., a diversified manufacturer of industrial products for the construction, chemical, aviation and recreational vehicle industries, reported its fourth-quarter profit climbed as sales grew. The company earned $38 million, up 8% from $35.3 million in the same period the previous year. Sales rose 15% to $581.7 million from $506.3 million. For the full year, the company earned $165.9 million, representing a 21% increase from $136 million in 2005. Sales climbed 10% to $2.26... Read more

King of the Road Shuts Down Operations

January 30, 2007 by · Leave a Comment 

Grand Island, Neb.-based Chief Industries Inc. announced Monday (Jan. 29) that its King of the Road subsidiary in nearby York would close immediately. According to TV station KOLN/KGIN, the fifth-wheel and diesel pusher plant employs 53 people. A call by RV Business magazine to the King of the Road facility confirmed the closing. The parent company said half of those 53 workers will be employed at other Chief operations. The corporation cited the high cost of energy and consolidation in the RV industry... Read more

Wholesale Shipments Flat in ’06, Gain 1.6%

January 30, 2007 by · Leave a Comment 

Despite the third straight double-digit monthly decline in December, 2006 wholesale shipments gained 1.6% over year-prior totals with 390,500 units delivered representing the industry’s best performance since 1978. According to the Recreation Vehicle Industry Association (RVIA), the travel trailer sector was down 32.1% for the month, again saddled with unfavorable year-over-year comparisons due to hurricane-related units shipped during the fourth quarter of 2005. The situation was further aggravated... Read more

Consumer Confidence Improves in January

January 30, 2007 by · Leave a Comment 

Consumers were feeling confident in January: The job market was chugging along and oil prices were down. But, according to an Associated Press report, their optimism may dwindle on concerns that job and wage growth may slow. The Conference Board, a private research group, said Tuesday (Jan. 30) that its Consumer Confidence Index edged up to 110.3 in January from a revised 110.0 in December. Analysts had expected a reading between 110.0 and 110.5. The January index was the highest in five years, suggesting... Read more

Baird Poll: Dealers Buoyant on ’07 Prospects

January 29, 2007 by · Leave a Comment 

Robert W. Baird & Co., a Milwaukee, Wis.-based investment firm that regularly tracks the recreational vehicle industry, recently released findings from a survey of 109 dealers designed to gauge dealer sentiment, retail trends, inventory levels and promotional activity in the fourth quarter of 2006. Results of the company’s “January RV Dealer Survey” showed: • Market demand: Motorhome demand improved due to easy comparisons in the fourth quarter of 2005, while towable demand fell against... Read more

Cummins Reports 13% 4Q Earnings Increase

January 29, 2007 by · Leave a Comment 

Cummins Inc. reported its fourth-quarter net income rose 13%, helped by strong North American demand for medium-duty and heavy-duty engines ahead of tightened emissions standards that took effect this year. Cummins’ said net income rose to $189 million from $167 million a year earlier, noting that research tax-credit legislation signed during the fourth quarter added $10.3 million to earnings. The Columbus, Ind., maker of engines and power generators said sales in the three months ended Dec.... Read more

Former Chinook Owners Settle with Ford

January 29, 2007 by · Leave a Comment 

The former owners of Yakima, Wash.-based Trail Wagons/Chinook RV have avoided legal action by making a settlement with a former creditor. The Yakima Herald-Republic reported that Gary and Mary Lukehart agreed to pay an undisclosed amount to Ford Credit, a commercial lending division of the Ford Motor Co., said Mark Watson, a Yakima attorney representing the Dearborn, Mich., company. Ford Credit was seeking $872,875, plus interest, for a loan that financed the purchase of truck chassis used in the... Read more

Frontier Introduces Hyperlite Trailer Series

January 29, 2007 by · Leave a Comment 

Frontier RV Inc., Longview, Texas, introduced its new aluminum-and-hung-fiberglass Hyperlite by Frontier travel trailer series at the recent Florida RV SuperShow in Tampa. Available in single-slideout lengths of 21-27 feet, the entry-level Hyperlite joins the Explorer and Aspen towables in Frontier’s brand lineup. Frontier President Johnny Hernandez said that high fuel prices led to the Hyperlite’s introduction and that 18- to 19-foot floorplans will be added later. No floorplan in the... Read more

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