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Class A motorhome manufacturer Rexhall Industries Inc. reports its losses narrowed during the third quarter and it believes “management’s recent efforts to improve the company’s overall image and product line” will lead to better financial performance, according to a Securities & Exchange Commission (SEC) document.
Rexhall reported a net loss of $204,000 for the three months ended Sept. 30, compared with a net loss of $907,000 incurred a year earlier.
Its sales revenue declined 16% during the July-through-September period to $10.8 million, compared with $12.9 million a year earlier.
The company shipped 130 Class A’s during the third quarter of this year, versus 155 units shipped a year earlier.
However, the Lancaster, Calif.-based company reports its third quarter sales were 12% higher than its sales revenue during the April-through-June portion of this year.
During the first nine months of this year, Rexhall lost a total of $542,000, compared with a net loss of $896,000 incurred during this same portion of 2002. Its sales revenue declined 32% during the nine-month period to $33.4 million, compared with $49.2 million a year earlier.
Meanwhile, in the SEC document, Rexhall reported it has postponed its expansion program at least until the second quarter of next year.
Rexhall acquired almost 12.5 acres of land adjacent to its headquarters in Lancaster during January of this year on which it intends to build a factory for assembling its own diesel chassis and “a new motorhome concept to be built on that chassis.”
However, Rexhall’s expansion programs was delayed “due to changes in the company’s manufacturing process necessitated by its introduction of the new line of T-Rex motorhomes and redesign of its standard product, late introduction of the T-Rex and low sales.”
Whether construction of the new factory will begin during the April-through-June portion of 2004 will depend upon market and economic conditions, according to the company.