Saturday, August 16, 2008

Lazydays RV losses grow as RV demand shrinks

Bizjournals.com - Charlotte,NC,USA
Lazydays RV Center Inc. posted a $2.3 million net loss for the three months ended June 30, compared to a $402,581 net loss in the same period a year earlier.

Revenue for the second quarter of 2008 was $136.6 million, down 32 percent from revenue of $201.4 million in the year-ago quarter.

Sales of both new and pre-owned vehicles dropped. The company sold 613 new vehicles in the second quarter of 2008, down 27 percent from a year earlier, while pre-owned sales fell 19 percent, to 692 vehicles.

Lazydays, based in Seffner, FL is the largest single-site dealer of recreational vehicles in the United States. The company is privately owned but files reports with the SEC stemming from its May 2004 issuance of $152 million in public bonds as part of the transaction in which Bruckmann Rossser Sherrill & Co. LLC purchased majority control.
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