Monday, July 25, 2005

Coachmen Industries Announces Revenues Decline 9.6% to $209 million

Coachmen Industries, Inc. today announced its financial results for the second quarter ended June 30, 2005.

Sales for the second quarter decreased 9.6% to $209 million versus $231 million during the same period last year. The net loss for the quarter was $1.5 million, or $0.09 per share, compared with net income from continuing operations of $5.1 million, or $0.33 per share, in the second quarter of 2004. Coachmen's second quarter sales decline was the result of a 10.4% decrease in sales in the Recreational Vehicle segment, and a 7.6% decrease in the Housing and Building segment. Profits were negatively affected by continued sales and margin pressure due to an industry-wide softening in recreational vehicles and weakness in the Company's core Midwest residential single-family housing markets. Full Story...

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