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National RV Holdings Inc. reported record second quarter sales revenue and the Perris, Calif.-based firm also posted a $2.5 million net profit for the three months ended June 30.
“We are very pleased with the strong demand we are seeing for all of our motorhomes, and are particularly proud of the second consecutive quarter of record sales at our Country Coach subsidiary,” said Brad Albrechtsen, president and CEO.
National RV Holdings’ total sales increased 72% in the second quarter to $126.4 million and its sales during the first half of this year increased 56% to $236.8 million.
The New York Stock Exchange-listed company’s net earnings of $2.5 million during the second quarter compares with a net loss of $3.4 million it incurred during the April-through-June portion of last year. And during the first half of this year, National RV Holdings earned a total of $3.2 million, compared with a net loss of $8.1 million incurred during the first half of 2003.
“While demand for all of our products is very strong right now, revenue from sales of our diesel motorhomes was up 119% compared to the second quarter of last year,” Albrechtsen said. “More important is the progress we are making with (profit) margins. The efforts of many over the last 18 months are driving the improved results. The company has also benefited from a healthy economy and strong industry results.”
In terms of unit volume, shipments of Country Coach and National RV division diesel engine motorhomes increased 103% during the April-through-June period to 443 units, versus 218 units shipped a year earlier. Deliveries of National RV division gasoline engine motorhomes also increased 26% in the second quarter to 369 units, compared with 293 units last year.
Meanwhile, shipments of National RV division towable RVs declined 34% in the second quarter to 314 units, compared with 475 units delivered to dealers a year earlier.
Country Coach’s second quarter sales revenue amounted to $57 million and its sales revenue total of $104 million during the first half of this year represents a 108% increase over its first half of 2003 revenue figure.
The National RV division’s second quarter sales revenue amounted to $69.4 million and its sales revenue total of $132.8 million during the first half of this year represents a 31% increase over its sales total for the first half of last year.