Wednesday, October 29, 2008

Monaco Coach Third Quarter Results

Monaco Coach Corporation a leading manufacturer of recreational vehicles, reported results for the third quarter ended September 27, 2008 and provided an update on its credit facilities.

Third quarter 2008 revenues were $166.3 million, compared to $322.4 million in revenues for the third quarter of 2007. The operating loss of $90.6 million for the third quarter included restructuring and impairment charges of $68.5 million. These results compare to operating income of $6.5 million for the third quarter of 2007. Net loss for the third quarter of 2008 was $71.8 million, or a loss of $2.40 per share, compared to net income of $3.7 million and earnings of $0.12 per share for the third quarter a year ago.

Monaco Coach Corporation reported it is in the final stages of concluding its new loan agreements to replace its existing credit facility. The Company believes the agreements will be concluded by the end of the week.
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