Class A motorhome manufacturer Rexhall Industries Inc. reports it lost $57,000 during the first quarter, an amount that was significantly less than the $253,000 net loss it incurred during the first three months of 2002.
The Lancaster, Calif.-based firm’s losses narrowed despite the fact its sales revenue declined 26% during the three months ended March 31 to $12.9 million, compared with $17.4 million a year earlier.
Rexhall narrowed its losses because it lowered its overhead and reduced is sales, general and administrative expenses during the first quarter, which led to a 21% increase in gross profits to $1.6 million, compared with $1.3 million a year earlier. “We hope to continue this trend in our efforts to return to profitability and regain market share in the second quarter of 2003 and beyond,” said William J. Rex, chairman, president and CEO.