Coachmen Industries Inc. lost almost $5 million during the first quarter but the company believes it will earn $9.5 million to $11 million during the full year 2001.

The company has almost 15.8 million shares outstanding and it believes it will earn 60 cents to 70 cents per share this year.

Coachmen’s $4.9 million loss during the first quarter is equivalent to 31 cents a share.

In part because it sees future profits, Coachmen’s Board declared a 5 cents a share cash dividend to be paid to shareholders of record as of May 24.