RV Investor

RV STOCKS AND INDUSTRY NEWS

 See full size image

RVIA Reports Wholesale Shipments for November Down 72% from 2007

Made in the USA
Made in the USA

Recreational Vehicle Industry Association

 

 

York and Company
 

 

 

 

 
Lazydays (Private: LD Holdings, Inc.) Snapshot

 

Company Profile

 

Lazydays is the largest single-site RV dealership in the world. It is privately held by LD Holdings, Inc. and sells a wide range of products from motorhomes and travel trailers to services.

 

Consolidated Charting

 

Consolidated Statements
LDH Income Statement Fiscal Year (December 31)  
  2003 2004 2005 2006 2007
Revenue           
New Vehicles    416,165  477,166  475,712  445,576  449,501
Used Vehicles    278,592  260,018  263,742  248,615  264,589
Other     60,882    62,526    64,744    63,077    63,860
Total Revenue    755,639  799,710  804,198  757,268  777,950
Cost of Goods Sold    646,685  683,415  684,307  643,371  674,100
Gross Margin    108,954  116,295  119,891  113,897  103,850
As a % of Sales 26.2% 24.4% 25.2% 25.6% 23.1%
           
Operating Expenses          
SG&A     70,027    80,393    83,314    81,710    80,586
Depreciation       3,238      9,988      8,302      7,847      6,806
Loss on Extinguishment of Debt             -            -        348        102          74
Operating Expenses      73,265    90,381    91,964    89,659    87,466
As a % of Sales 17.6% 18.9% 19.3% 20.1% 19.5%
           
Operating Income     35,689    25,914    27,927    24,238    16,384
As a % of Sales 8.6% 5.4% 5.9% 5.4% 3.6%
  ssssss        
Income from Continuing Operations          
Floor Plan Interest Expense       2,556      2,441      3,565      4,170      3,543
Other Interest Expense       3,211    12,290    17,813    17,157    16,671
Earnings Before Interest And Taxes      29,922    11,183      6,549      2,911    (3,830)
Income Tax Expense        4,542      3,354      2,487      1,110    (1,376)
Net Income     25,380      7,829      4,062      1,801    (2,454)
As a % of Sales 6.1% 1.6% 0.9% 0.4% -0.5%
           
EBITDA     33,160    21,171    14,851    10,758      2,976
As a % of Sales 8.0% 4.4% 3.1% 2.4% 0.7%
           
LDH Balance Sheet Fiscal Year (December 31)  
  2003 2004 2005 2006 2007
Current Assets          
Cash And Cash Equivalents        8,576      5,104      4,726      3,254      8,909
Net Receivables      13,711    14,196    21,855    15,515    16,486
Refundable Income Taxes       1,369      7,504        491        378        996
Inventory      69,873    85,961    87,392  100,688    94,460
Deferred Income Taxes       2,352      1,105      
Prepaid Expenses and Other sssssssssss
      1,771
     1,820 s
     2,062
     3,002      3,450
Total Current Assets      97,651  115,690  116,526  122,837  124,301
  sssssssssss   s    
Long Term Assets          
Property Plant and Equipment  ssssssssss