Navistar 4Q, Year-end Income Soars, Sales Rise

“We are pleased that we have finished the year strong and delivered solid fourth quarter results across all segments,” said Daniel C. Ustian, Navistar chairman, president and chief executive officer. “Not only did we deliver on 2011 commitments, we continued to invest in our strategy and set the foundation for a strong 2012.”

Reported net income for the fourth quarter, ended Oct. 31, was $255 million, equal to $3.48 diluted earnings per share, versus a year-ago net income of $44 million, equal to $0.61 diluted earnings per share. Adjusted net income for the fourth quarter 2011 was $247 million, or $3.37 diluted earnings per share.

Net income for fiscal year 2011 was $1.7 billion, equal to $22.64 diluted earnings per share, versus net income for fiscal 2010 of $223 million, equal to $3.05 diluted earnings per share. Adjusted net income was $402 million, or $5.28 diluted earnings per share. Adjustments impacting both the fourth quarter and fiscal year 2011 include the net impact of an income tax valuation allowance release, costs associated with the restructuring of North American manufacturing operations including Monaco RV LLC and Workhorse Custom Chassis Corp., along with engineering integration and the impact of the Medicare Part D court ruling.

Revenue for the fourth quarter rose 28% to $4.32 billion compared with $3.37 billion in the prior-year period. For the full year, sales were nearly $14 billion versus $12.14 billion the previous year.

In the fourth quarter, the company saw increases in worldwide unit chargeouts in both its traditional North American and global businesses while maintaining a strong market share position. The company purchased 2.7 million shares of its stock in the fourth quarter and ended the year with a manufacturing cash balance of $1.2 billion. Navistar is on track to complete the full $175 million stock repurchase program in early 2012.

“We expect the industry to continue its steady recovery,” said Ustian. “We will continue to leverage our market leading North American businesses, invest in new products and expand further into global markets, while effectively controlling our costs.”

For the complete report click here.

 

 

Monaco RV LLC Opens Indiana Service Facility

Monaco RV LLC announced the Oct. 3 opening of an Indiana service center across the street from its Wakarusa manufacturing facility on Ward Street.

According to a press release, the expansive 14-bay facility will service all Monaco brand products and be staffed by industry-certified factory technicians.

Monaco said the technicians have years of experience working on the company’s products, noting, “Their expertise and familiarity of the products will make for efficient, comprehensive and timely service appointments for customers.”

The facility will also have an accessible full-body paint booth for all paint repairs and touch-up work.

To coincide with its grand opening and welcome back customers, the service center will offer a special introductory labor rate of $90, good until April 1, 2012.

The center will be open Monday through Friday from 7:30 a.m. to 4:00 p.m. Appointments can be made by calling 877-466-6226 (877-4MONACO).

Monaco RV LLC, a Navistar company, is a manufacturer of motorized and towable recreational vehicles. Headquartered in Coburg, Ore., with substantial manufacturing facilities in Indiana, Monaco RV is dedicated to quality and service and offers innovative RVs designed to meet the needs of a broad range of customers with varied interests. For additional information about Monaco RV, LLC please visit www.monacorv.com.

 

Monaco Open House Offers Breadth of Product

Monaco RV LLC, manufacturer of motorized and towable recreational vehicles, is preparing to showcase the breadth of its product offering at Elkhart County’s 4th Annual Open House September 19-22. Monaco RV will showcase its “Next Generation of RVs” at a display a few minutes south of the RV/MH Hall of Fame, at the intersection of C.R. 17 and U.S. 20.

Monaco will display nearly 50 different product offerings from its diverse portfolio of brands covering nearly every segment of the market. On display will be: Monaco brand diesel, gas, Class A and B motorhomes; Holiday Rambler diesel, gas, Class A, B and C motorhomes; Holiday Rambler travel trailers and fifth-wheels; R-Vision travel trailers and fifth-wheels; and Bison horse trailers with living quarters.

The display will be open Monday through Thursday from 9 a.m. to 6 p.m., and lunch will be served daily from 11 a.m. to 1 p.m. Monaco RV will also have sales and management personnel available to provide information, offer demonstrations and answer questions.

“We are excited to be able to bring our ‘Next Generation of RVs’ to dealers who will be in the Elkhart area,” said Mike Snell, senior vice president of sales and product development. “We believe our partnership with Navistar, has brought us new technology, new engineering and superior designs that have never been seen in the RV market before. Our 2012 models are the best products we have ever offered.

“We plan to expand on these products and raise the bar even higher in the future. We will continue to focus on innovation, quality and customer service to deliver the finest, most customer appealing products to our dealer partners.”

 

Industry Veteran Hunter Joins R-Vision Team

Coburg, Ore.-based Monaco RV LLC, manufacturer of motorized and towable recreational vehicles, announced today (July 12) the hiring of Jerry Hunter as Southwest regional sales representative for the R-Vison towable brand.

According to a press release, Hunter has served for the past 18 years in the RV industry, including positions in management for a dealership, sales director for an RV publications and media marketing company and sales management for a manufacturer. Previously, Hunter logged 17 years in the auto industry.

“Jerry brings extensive product knowledge and experience in all aspects of the RV Industry,” said Jack Ferguson, West Coast sales manager for R-Vision. “His blend of wholesale, retail, marketing and management skills will be a tremendous asset when managing dealer partner relationships and sales initiatives. We are excited to have Jerry join the R-Vision team and look forward to him contributing greatly as we continue to expand our dealer base and build lightweight, quality towables.”

Hunter will be managing sales for R-Vision products in California, Arizona, Nevada, Utah and Oregon. Jerry resides in Nevada and can be reached by cell phone 702-631-8712 and at jerry.hunter@monacorv.com.

Monaco ’12 Coaches Sport Navistar Influence

Navistar Inc.’s influence was evident in Monaco RV LLC’s 2012 product rollout during the company’s Dealer Congress this week, as the world-class truck manufacturer continues to implement design, engineering and cultural changes since acquiring Coburg, Ore.-based Monaco in June of 2009.

With former Navistar board member and auto industry veteran Bill Osborne set to take over the reins on July 1, Monaco showed several 2012 motorhomes sporting a distinctive, truck-enhanced front end and grille design – first introduced a year ago on the 32-foot Vesta Class A – that creates a familial look throughout the motorized lineup.

“The things we are doing now are things we couldn’t even imagine before we became part of Navistar,” said Mike Snell, senior vice president of sales and product development, speaking during the general session of the June 20-22 event at the Gaylord Texan Resort in Grapevine, Texas. “And we are definitely doing things that no one else in the industry is doing.”

As a key example, Snell pointed to the “successful integration” of Navistar’s MaxxForce engines with Monaco RV’s Roadmaster chassis, representing the “first fully designed and integrated motorhome platform in the industry” in which engine, body and chassis are all manufactured by the same OEM.

Topping the 2012 product rollout was the debut of longer 35-foot floorplans in the diesel-powered Monaco Vesta and Holiday Rambler Trip Class A lines equipped with a second slideout, full walk-around bedroom and increased seating. Development of the new models was “designed in close conjunction with Navistar,” stated Snell.

On the gas side, Snell said the company had introduced a new entry-level coach in the Monaco LaPalma Class A line, featuring “the family design characteristics shared with the Vesta,” and a new floorplan in the Monarch Class A series offering a new bath-and-a-half layout.

Snell was quick to note that Monaco had also “recommitted” to its towable division.

“We have created an entirely separate towable division with its own product development and manufacturing team,” Snell said. “We brought in Keith Griffin and Dave Terry to head a separate management group for the towable division.”

Headlining the 2012 towable introductions was the return of R-Vision’s Trail Lite, featuring two new fifth-wheels and a travel trailer – all capable of being towed with half-ton trucks.

“Taking today’s economic times into consideration, R-Vision is going back to its roots and focusing on what made it successful – being the lightweight leader,” said Snell.

In the wood-and-aluminum sector, Monaco showed new sharply priced R-Vision Silver Creek and Holiday Rambler Traveler models offering entry-level, non-slide floorplans. “One 26-foot bunkhouse model will come fully loaded for under $10,000,” Snell noted.

Other highlights from the meeting included:

• An initiative offering Monaco parts sales online through Navistar’s parts distribution center at its home base in Chicago. “This is the first of a number of parts distribution centers where we will be shipping RV parts and accomplishing our fulfillment commitments to you,” said Snell.

• Newly introduced diesel products equipped with a first-in-class Bendix steering column that adjusts both up and down as well as offering telescoping capabilities. The column comes in through the dash, improving pedal and driver foot positions, giving motorhomes the look and feel of driving a luxury SUV.

• An integrated key system that not only starts the vehicle, but also unlocks bay doors, entry doors and other exterior access points.

• An RV savings rebate promotion designed to turn over dealers’ in-stock units with “no strings attached.”

• Significantly revamped websites to give brands a “whole new look and feel,” with the ultimate goal of providing greater product differentiation and focus on specific segments of the marketplace.

Osborne Addresses Monaco Dealer Congress

William L. “Bill” Osborne, in his first official address to Monaco RV LLC’s dealer body during the Coburg, Ore.-based company’s Dealer Congress 2011, offered a vision of growth and success founded on “three key elements” – product quality and innovation, supported by a renewed focus on customer care.

The gathering, running June 20-22, attracted representatives from 68 dealerships to the Gaylord Texan Resort in Grapevine, Texas.

“Our intention will be to build the finest coaches in the industry, period,” said Osborne, who will replace outgoing Monaco President Kay Toolson July 1 and assume the role of vice president of custom products for Navistar Inc.’s Monaco and Workhorse Custom Chassis LLC subsidiaries. “This isn’t going to be accomplished by launching some kind of special initiative. We will accomplish it by organizing ourselves to do it, setting higher standards for ourselves, and living up to those standards. It simply has to become part of our DNA and we have to improve on it every day.”

While acknowledging that he was a newcomer to the RV industry, Osborne stressed that his 30-plus years in the global and domestic auto sector had uniquely prepared him for the new position.

“Some of my past experiences include times as president of both Ford Australia and Ford Canada,” he said. “I headed Ford’s North American Truck Engineering group, leading the development of award winning products like the F150 and super-duty line of pickup trucks. I also served as the CEO of the Federal Signal Corp. and a member of the board of directors at Navistar.

“Of course, none of that makes me an expert in the RV business. But I do bring a wealth of experience and some fresh thinking to the table that we will use to build the ‘Next Generation of Monaco RV.’”

Osborne’s speech highlighted Tuesday’s general session that featured presentations by several key members of Monaco management. Toolson also took the stage, offering a recap of his 25-year tenure at the helm of Monaco Coach Corp. Dan Ustian, CEO and chairman of Warrenville, Ill.-based Navistar, which purchased Monaco out of Chapter 11 bankruptcy in 2009, addressed the dealers that evening.

Throughout the meeting, Monaco showcased its 2012 product line, offering dealers a look at the 35-foot Monaco Vesta and Holiday Rambler Trip Class A motorhomes and upgrades to the Monaco LaPalma and Knight Class A lines.

Osborne touched on a broad range of topics during his speech. The following are some excerpts:

• In referring to Monaco’s new quality initiative, Osborne quipped, “What a shock. Here is an ex-Ford guy talking about quality.” He added, “I’m sure that every dealer meeting you attend, there is some guy on stage talking about improving quality. …What’s different this time is that unlike some other executives in the industry, I actually know what it takes to get it done. That means that I’m not going to tell you that it will be done quickly or that we will be an overnight success. It is hard work and it is going to take time.”

• Concerning product development, Osborne said that the Vesta and the Trip were examples of Monaco’s ability to “leverage the engineering expertise at Navistar.” He added, “We are going to invest in consumer research so that we know our customers and where they are headed in the future. We will take those consumer insights and use to create products for the next generation of RVer’s.

• With regard to service, Osborne stated, “The next generation of customers will reject you, if you can’t offer them a no-hassle, worry-free experience with your products. … Right now, we are in the early stages of defining what that service experience needs to be and how we will organize ourselves to deliver it. We will have more to say about it in the future, but it is a key element of our strategy.”

In closing, Osborne emphasized that Monaco’s dealer body would be facing the same challenges over the coming year.

“As we raise the bar for ourselves, on quality, on innovation and on service, we’re going to be asking you to do the same,” he said. “We need to work together to define how you plan to market, sell and support the ‘Next Generation of Monaco RV.’ We want you to share these bedrock values, so that you can grow with our strategy.

Monaco’s Kay Toolson Announces His Retirement

Kay Toolson, president of Monaco RV LLC, will retire the end of June.

After 25 years at the helm of Monaco RV and Monaco Coach Corp., Toolson will step away from the day-to-day operations, but still be involved in special projects and take an advisory role in the company, according to a news release.

A native of Smithfield, Utah, Toolson joined the recreational vehicle industry in 1972 as product manager for Kings Highway Mobile Industries in Los Angeles, where he later held the positions of national sales manager and vice president.

In 1982, he joined Anaheim, Calif.-based motorhome manufacturer Executive Industries as a minority owner and executive vice president of operations, a position he held until 1986.

Toolson joined Oregon-based Monaco Coach Corp. in 1986 and completed a management buyout of the company in 1993, and took the company public that same year. He served as president for the company from 1986 to 2000, CEO from 1986 to 2009, and as chairman from 1993 to 2009.

During his tenure with Monaco , the company grew from a small, specialty RV manufacturer recording $17 million in annual revenue to a 5,70-employee company producing a broad spectrum of RVs and annual revenue in excess of $1.4 billion.

The company filed for bankruptcy in 2009 and was subsequently purchased by Navistar Inc. Since that purchase, Toolson has served as president of Monaco RV.

Monaco RV’s current management team will remain, reporting to William H. Osborne, the newly named vice president of custom products for Navistar Inc. In this role, Osborne will have accountability for the Monaco RV and Workhorse business units.

Monaco Holds Supplier Summit in Wakarusa

Monaco RV LLC, manufacturer of motorized and towable recreational vehicles, held a two-day Supplier Summit Meeting April 25-26 at its Wakarusa, Ind., manufacturing facilities.

The two-day event, led by John Healey, vice president of corporate purchasing, brought suppliers together to discuss a variety of topics to enhance Monaco RV products, improve relationships and increase cost efficiencies, according to a news release.

The suppliers were given an overview of the current Monaco RV product offerings, as well as a look into the future of upcoming products. An explanation of the successful MQS (Monaco Quality System) program was detailed, and how this program has increased the end-quality of products. Vendors were also given a tour of the 442,000-square-foot, state-of-the-art manufacturing facility, along with tours of completed products. Topics discussed included cost savings ideas, labor savings and supplier audits.

“We have had a long and successful working relationship with our supplier base, and it is always good to come together to share new ideas and opportunities,” said Healy. “We had a great turnout and the suppliers are excited about our new product offerings and our efficiencies in quality.”

Monaco Dealer Congress: June 20-22 in Texas

Monaco RV LLC invites dealers to experience the “Next Generation of RVs” at their annual Dealer Congress. The event will be held at the Gaylord Texan Resort in Grapevine, Texas, June 20-22, according to a news release.

Monaco RV Dealer Congress 2011 will showcase new, upgraded and innovative products from each of its respective brands: Monaco, Holiday Rambler and R-Vision. The event will include entertainment along with special speaking guests, including Dan Ustian, CEO and chairman of Navistar International Corp.

Monaco RV chose the Gaylord Texan Resort for its Dealer Congress due to the close proximity to Navistar’s Garland Truck Plant. Tours of this cutting-edge, advanced technology plant will be available to all attendees, giving guests a glimpse of the vast resources available to Monaco RV as a partner with Navistar, a world-leader in transportation.

Formal invitations for this event will be forthcoming. For more information or questions regarding this event, contact Jade Vira at jade.vira@monacorv.com or at (574) 862-7511.

Monaco Partners with the Wynns for Web Saga

Monaco RV LLC announced a strategic partnership with entrepreneurs Jason and Nikki Wynn, the creative team behind “Gone with the Wynns’,” an interactive website and popular video web series of the same name.

The Wynns travel the country in their new Monaco Vesta in search of the greatest and greenest RV adventures America has to offer, while producing a series of short videos that document where they are, what they‟re doing and who they meet, according to a news release. It began as a way to provide a visual journal of sorts for their friends and family to enjoy. A way to stay connected.

“We knew we wanted to take advantage of today’s social media, like YouTube, Facebook and Twitter,” explained Jason. “Once we knew this was something that could be opened up to the general public, it just took off.”

The idea has blossomed into the website and video series “Gone with the Wynns’.” (Visit www.gonewiththewynns.com). Each 3-5 minute webisode, hosted by Nikki and shot and edited by Jason, is a reflection of the Wynns’ infectious personalities and diverse interests. “From a music and art festival in Nevada, to exploring the wetlands of the Mississippi River,” explained Nikki, “we hope RVers from all walks of life find inspiration for their next trip, and even offer their own suggestions.”

When the Wynns were seeking a new Class A motorhome that was eco-friendly, easy to drive and would fit their youthful lifestyle, they turned to the 2011 Monaco Vesta 32PBS. “We love the Vestas clean, modern design and eco-friendly features,” said Jason, “including energy-efficient windows, the clean-burning fuel-efficient diesel engine and optional LED lighting and solar panels.”

The Wynns, their two cats, Cleo and Singa, and their new Vesta, nicknamed “Windy,” are scheduled to make several stops throughout the Western states, including Breckenridge, Colo.; Taos, N.M.; Dana Point and Indio, Calif.

New webisodes will be posted to the website weekly, along with a “tip of the day,” featuring RV and environmental-related tips.

You can also follow the Wynns via Facebook or Twitter through links on their website. Via the “Contact” page on the site, they strongly encourage suggestions for cool destinations, events or local food spots. Their videos are also viewable through video sharing sites YouTube and Vimeo.

“We seized the unique opportunity to partner with Jason and Nikki Wynn for the ‘Gone with the Wynns” venture,” explained Ryan Lee, director of marketing for Monaco RV. “They love their new Vesta and their passion for RVing and the outdoors are sure to raise awareness to consumers who may not have considered RVing before, while helping to drive prospective buyers to dealers‟ lots.

“The Wynns are youthful, active, green-minded and eco-conscious, which isn’t something people always associate with RVers. Partnering with Jason and Nikki is a unique way for us to get our products in front of a demographic group that is largely new to the RV market. They Wynns are great people, talented professionals and tremendous ambassadors. We’re proud to have them representing Monaco RV, our products and the RV lifestyle.”

Next Page »