Monaco Coach Corp. warned the financial community today (Oct. 16) that its third quarter earnings will be 3 cents to 5 center per share lower than Wall Street’s previous consensus estimate of 55 cents a share.

The New York Stock Exchange-listed company will report lower than forecasted earnings despite that fact its sales revenue for the three months ended Sept. 30 will be around $226 million, about a 15% higher than during the third quarter of 1999.

“Although retail demand for our products remained strong throughout the summer months and we continue to gain market share, the competitive environment within our industry has resulted in continued price discounting at the wholesale level,” said John Nepute, executive vice president and CFO. “These discounts have placed considerable pressure on gross margins and earnings despite increases in unit shipments and revenues.”