National RV Holdings Inc. has warned Wall Street that it anticipates reporting a loss of 12 cents to 16 cents a share for the first quarter.
The company also revealed its first quarter sales will be 35% to 40% below the $105.3 million in sales it generated during the first quarter of 2000.
The soft motorhome market and “an additional warranty accrual related to weight issues on certain of the company’s highline motor coaches” contirbuted to the expected loss, according to the Perris, Calif.-based firm.
The warranty issue will contribute about 10 cents a share of the expected first quarter loss. The loss attributable to warranty issues “is subject to revision prior to the release of final first quarter results” on April 19.
To address the challenges, National RV formed a three-member “office of the chief executive.” The office is comprised of National RV President Wayne Mertes, Chairman Gary Siegler and Vice Chairman Bob Lee.