Coachmen Industries Inc. executives believe the RV and modular structures builder will return to profitability during the second quarter.
Chairman and CEO Claire Skinner told an investor conference in San Francisco today (March 9) that she believes Coachmen will earn 60 cents to 70 cents per share this year, up from 14 cents a share earned during 2000.
Skinner told the gathering that Coachmen will report a loss during the first quarter of this year but that the company will be profitable during the remaining three quarters.
She said Coachmen’s revenues will total about $750 million this year, with a little more than two-thirds coming from RVs and the remainder from modular homes and other modular structures.
Motorhome shipments will be down 17.9% in 2001, when compared with 2000, Skinner also told the gathering. Towable RV deliveries will be down 9.4% this year, she added.
Coachmen is working to diversify into modular structures to offset the RV industry’s cycles, Skinner continued. Progress towards that goal was achieved during 2000 when Coachmen acquired three modular structures builders. Consequently, about 37% of Coachmen’s sales in 2001 will come from modular structures, compared with 24% in 2000 and 17% in 1999, Skinner added.