Perris, Calif.-based National RV Holdings Inc. is continuing to explore “all strategic alternatives,” a process that began last November and could include acquisitions, mergers or selling the company.
According to a report in the Register Guard, Junction City, Ore., Albrechtsen told analysts Tuesday (March 6) in a conference call the board could take some action as early as June.
On Nov. 29, the board rejected a $92 million buyout proposal from CCA Acquisition Group Inc., a business entity comprised of Bob Lee – founder of subsidiary Country Coach Inc., Junction City, Ore. – and investors B. Riley & Co. and SACC Partners. National RV Holdings also is parent to Perris-based motorhome maker National RV Inc.
The conference call followed issuance of the company’s financials which showed a $19.8 million net loss for the year and $7 million net loss for the fourth quarter. National RV Holdings also reported increased sales for the quarter and year-end.
Albrechtsen said the Country Coach division continues to be profitable, and he expects the Perris-based National RV division, which has been losing money, to break even in the first quarter and then start making money.
While Country Coach is making money, the fourth quarter was challenging, as it always is, he said. The Junction City plant, which usually closes for one week in the fourth quarter, shut down for one extra week, he said.
Albrechtsen said he was encouraged by the fact that the company booked record sales in 2005, which he attributed to motorhomes designed to provide the most desirable features at competitive price points, a growing number of dealer partners and a loyal, expanding customer base.
Investments in product development also seem to be paying off, and the company was able to lower manufacturing costs in the fourth quarter, he said.