Perris, Calif.-based National RV Holdings reported a widened net loss on a 10% decline in revenues for its first quarter, ended March 31.
Sales for the three-month period fell to $112.9 million from $125.6 million a year ago. The motorhome builder, parent to Perris-based National RV Inc. and Country Coach Inc., Junction City, Ore., reported a first-quarter net loss of $2.1 million compared with a net loss of $1.4 million during the same period last year.
“Despite a difficult Class A motorhome market, we were able to make progress towards our short-term goal of getting back to profitability,” said Brad Albrechtsen, president and CEO for National RV Holdings. “We improved our operating performance and reduced our quarterly loss from $7 million in the fourth quarter of 2005 to approximately $2 million in the first quarter of this year.
“We believe that our market share growth and cost reduction initiatives are working, and we remain optimistic about our ability to generate a profit in 2006.”
Wholesale shipments of diesel motorhomes for the quarter were 352 units, down 13% from 406 shipped during the same period last year. Shipments of gas motorhomes declined 8% to 368 units from 401 a year ago.