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Elkhart, IN,
May 23, 2007 - Coachmen Industries, Inc. (NYSE: COA) today announced
retail market share improvements for the first quarter of 2007. Retail
registrations as reported by Statistical Surveys, Inc. improved in
several product categories in the first quarter. Share of Class A
diesel motorhomes increased 18.1% from a year earlier and Class C market
share also increased 18.1% during the same period. In towables, the
Company increased retail market share in both travel trailers and
fifth-wheels by 6.3% and 3.8% respectively.
“We are excited to see the work we’ve put into redesigning our products
bear fruit in the form of increased market share,” stated Michael R.
Terlep, President of the Coachmen RV Group. “Our recent gains validate
our strategy and vision to provide affordable RV’s with best-in-class
quality, featuring innovative designs presented with ‘WOW’ in the entry
to mid-level markets. We will continue that focus as we build on our
market share momentum with the introduction of our new 2008 model-year
products at our upcoming dealer seminar.”
Coachmen Industries, Inc., through its prominent industry subsidiaries,
is one of America’s leading manufacturers of recreational vehicles,
systems-built homes and commercial buildings. The Company's well-known
RV brand names include COACHMEN®, GEORGIE BOY®,
SPORTSCOACH® and VIKING®. Coachmen's ALL AMERICAN
HOMES subsidiary is one of the nation’s largest producers of
systems-built homes, and also a major builder of multi-family
residential and commercial structures with its ALL AMERICAN BUILDING
SYSTEMS® products. Coachmen Industries, Inc. is a publicly
held company with stock listed on the New York Stock Exchange (NYSE)
under the ticker COA.
This release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Investors are
cautioned not to place undue reliance on forward-looking statements,
which are inherently uncertain. Actual results may differ materially
from that projected or suggested due to certain risks and uncertainties
including, but not limited to, the potential fluctuations in the
Company’s operating results, increased interest rates the availability
for floorplan financing for the Company’s recreational vehicle dealers
and corresponding availability of cash to Company, uncertainties and
timing with respect to sales resulting from recovery efforts in the Gulf
Coast, uncertainties regarding the impact on sales of the disclosed
restructuring steps in both the recreational vehicle and housing and
building segments, the ability of the company to generate taxable income
in future years to utilize deferred tax assets and net operating loss
carry-forwards available for use, the impact of performance on the
valuation of intangible assets, the availability and the price of
gasoline, price volatility of raw materials used in production, the
Company’s dependence on chassis and other suppliers, the availability
and cost of real estate for residential housing, the supply of existing
homes within the company’s markets, the impact of home values on housing
demand, the ability of the Housing and Building segment to perform in
new market segments where it has limited experience, adverse weather
conditions affecting home deliveries, competition, government
regulations, legislation governing the relationships of the Company with
its recreational vehicle dealers, consolidation of distribution channels
in the recreational vehicle industry, consumer confidence, uncertainties
of matters in litigation, further developments in the war on terrorism
and related international crises, oil supplies, and other risks
identified in the Company’s SEC filings.
For more information:
Jeffery A. Tryka, CFA
Director of Planning and Investor
Relations
574-262-0123 |
