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Guardado Advisors LLC
 
 
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Monaco Coach (OTC: MCOAQ) Snapshot

Updated January 7, 2009

 

Company Profile

 

Monaco Coach Corporation is a manufacturer of recreational vehicles. Monaco Coach offers entry-level priced towable RVs up to custom made luxury recreational vehicle models under the Monaco, Holiday Rambler, Safari, Beaver, McKenzie and R-Vision brand names.

 
Consolidated Charting
   
Consolidated Statements
  Quarter Ending    
MNC Income Statement Q1-05 Q2-05 Q3-05 Q4-05 Q1-06 Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07 Q4-07 Q1-08 Q2-08 Q3-08    
  Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08   ttm
Revenue     331,512    306,187    292,579  305,960  385,068  321,283  292,473  299,163  322,244  335,319  322,422  292,145  252,377  201,887  166,266       912,675
Cost of Goods Sold ssssss
   295,295
   273,103    268,378  274,692  336,619  290,792  273,940  272,092  286,248  298,721  286,243  260,050  236,571  192,714  165,484       854,819
Gross Margin      36,217      33,084      24,201    31,268    48,449    30,491    18,533    27,071    35,996    36,598    36,179    32,095    15,806      9,173        782         57,856
As a % of Sales 10.9% 10.8% 8.3% 10.2% 12.6% 9.5% 6.3% 9.0% 11.2% 10.9% 11.2% 11.0% 6.3% 4.5% 0.5%   6.3%
                                   
Operating Expenses                                  
R&D              -              -              -            -            -            -            -            -            -            -            -            -                      -
SG&A ssssss
     27,343
     29,411      29,697    26,728    33,979    29,429    29,474    27,583    32,358    27,865    29,662    27,574    28,636    22,257    22,870       101,337
Non Recurring               -        2,352        1,480        538            -        269            -            -            -            -            -            -        1,966    68,497         70,463
Others  ssssss
             -
             -              -            -            -            -            -            -            -            -            -            -            -            -            -                -
Operating Expenses       27,343      31,763      31,177    27,266    33,979    29,698    29,474    27,583    32,358    27,865    29,662    27,574    28,636    24,223    91,367       171,800
As a % of Sales 8.2% 10.4% 10.7% 8.9% 8.8% 9.2% 10.1% 9.2% 10.0% 8.3% 9.2% 9.4% 11.3% 12.0% 55.0%   18.8%
                                   
Operating Income        8,874        1,321      (6,976)      4,002    14,470        793   (10,941)       (512)      3,638      8,733      6,517      4,521   (12,830)   (15,050)   (90,585)      (113,944)
As a % of Sales 2.7% 0.4% -2.4% 1.3% 3.8% 0.2% -3.7% -0.2% 1.1% 2.6% 2.0% 1.5% -5.1% -7.5% -54.5%   -12.5%
                                   
Income from Continuing Operations                                  
Total Other Income/Expenses Net  ssssss
         114
           26            15        100        132        256        119        108        113       (320)           1        721        213        919       (746)          1,107
Earnings Before Interest And Taxes         8,988        1,347      (6,961)      4,102    14,602      1,049   (10,822)       (404)      3,751      8,413      6,518      5,242   (12,617)   (14,131)   (91,332)      (112,837)
Interest Expense  ssssss
         485
         187          271        877      1,252        940      1,306        932        967        947        829        753        725        923      1,156          3,557
Income Before Tax         8,503        1,160      (7,232)      3,225    13,350        109   (12,128)    (1,336)      2,784      7,466      5,689      4,489   (13,342)   (15,054)   (92,488)      (116,394)
Income Tax Expense  ssssss
       3,180
         405      (3,127)      1,229      5,057       (370)    (5,030)       (649)      1,007      3,002      2,008      2,120    (4,885)    (5,354)   (20,734)       (28,853)
Minority Interest               -              -              -            -            -            -            -            -            -            -            -            -            -            -            -                -
Net Income From Continuing Ops         5,323          755      (4,105)      1,996      8,293        479    (7,098)       (687)      1,777      4,464      3,681      2,369    (8,457)    (9,700)   (71,754)       (87,541)
                                   
Non-recurring Events                                  
Discontinued Operations               -              -      (1,858)        537            -       (107)            -        125       (278)            -            -            -            -            -            -                -
Extraordinary Items               -              -              -            -            -            -            -            -            -            -            -            -            -            -            -                -
Effect Of Accounting Changes               -              -              -            -            -            -            -            -            -            -            -            -            -            -            -                -
Other Items               -              -              -            -            -            -            -            -            -            -            -            -            -            -            -                -
Net Income         5,323          755      (5,963)      2,533      8,293        372    (7,098)       (562)      1,499      4,464      3,681      2,369    (8,457)    (9,700)   (71,754)       (87,541)
Preferred Stock And Other Adjustments                                   
Net Income Applicable To Common Shares         5,323          755      (5,963)      2,533      8,293        372    (7,098)       (562)      1,499      4,464      3,681      2,369    (8,457)    (9,700)   (71,754)       (87,541)
As a % of Sales 1.6% 0.2% -2.0% 0.8% 2.2% 0.1% -2.4% -0.2% 0.5% 1.3% 1.1% 0.8% -3.4% -4.8% -43.2%   -9.6%
                                   
EBITDA ssssss
     17,573
       3,862      (4,427)      6,817    17,516      4,423    (7,223)      3,192      7,288    11,944    10,063      8,761    (9,160)   (10,679)   (87,914)       (98,992)
As a % of Sales 5.3% 1.3% -1.5% 2.2% 4.5% 1.4% -2.5% 1.1% 2.3% 3.6% 3.1% 3.0% -3.6% -5.3% -52.9%   -10.8%
                                   
MNC Balance Sheet Quarter Ending    
  Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08   mrq
Current Assets                                  
Cash And Cash Equivalents  ssssss
       1,477
             -              -        586      8,387      2,428        586      4,984    29,026      2,233    35,231      6,282      8,081      1,340      2,999          2,999
Short Term Investments               -              -              -            -            -            -            -            -            -            -            -            -          
Net Receivables  ssssss
   172,120
   139,406    137,317  139,217  126,781  103,226  102,666  126,527    88,399  151,484  117,785  125,778  114,034  110,675    80,838         80,838
Inventory  ssssss
   177,246
   186,107    186,324  192,427  188,959  190,134  183,292  163,868  160,728  154,969  156,490  167,074  178,201  201,828  165,259       165,259
Other Current Assets  ssssss
       4,937
       5,305        4,450      9,286    48,522    57,466    54,972      5,624    45,063      4,881      5,118      5,142      4,759      5,543      5,804          5,804
Total Current Assets     355,780    330,818    328,091  341,516  372,649  353,254  341,516  301,003  323,216  313,567  314,624  304,276  305,075  319,386  254,900       254,900
                                   
Long Term Assets                                  
Long Term Investments              -              -              -            -            -            -            -            -            -            -            -            -      4,184      4,605      3,885          3,885
Property Plant and Equipment  sssss
   140,112
   143,114    143,062  159,304  159,735  158,136  159,304  170,195  167,870  173,338  171,326  168,612  160,504  153,256  134,537       134,537
Goodwill  ssssss
     55,254
     55,254      55,254    85,952    86,025    86,003    85,952    86,412    86,412    86,412    86,412    86,323    86,323    86,323    39,357         39,357
Intangible Assets               -              -              -            -            -            -            -            -            -            -            -            -            -            -            -                -
Accumulated Amortization               -              -              -            -            -            -            -            -            -            -            -            -            -            -            -                -
Long Term Investments              -              -              -            -            -            -            -            -      4,394      3,695      3,406      4,059                      -
Other Long Term Assets  ssssss
         537
         492          480        695        638        580        695        540        655        577        557        498                      -
Deferred Long Term Asset Charges               -              -              -            -            -    16,300            -            -            -            -            -            -            -            -      9,436          9,436
Total Long Term Assets    195,903    198,860    198,796  245,951  246,398  261,019  245,951  257,147  259,331  264,022  261,701  259,492  251,011  244,184  187,215       187,215
                                   
Total Assets     551,683    529,678    526,887  587,467  619,047  614,273  587,467  558,150  582,547  577,589  576,325  563,768  556,086  563,570  442,115       442,115
                                   
Current Liabilities                                  
Accounts Payable  ssssss
   130,970
   105,979    126,343  109,163  101,040    95,737    78,299  116,955  107,936  150,224  146,537  135,168  107,656  114,127    89,553         89,553
Short/Current Long Term Debt  ssssss
     25,000
       7,500      12,715    30,714    28,214    37,822    30,714      7,750      5,714      5,714      5,714      5,714    58,735    80,029    74,700         74,700
Other Current Liabilities  ssssss
     52,212
     73,545      51,843    74,448  108,855  101,520  105,312    66,492  101,284    51,959    52,571    51,397    52,143    49,094    44,036         44,036
Total Current Liabilities     208,182    187,024    190,901  214,325  238,109  235,079  214,325  191,197  214,934  207,897  204,822  192,279  218,534  243,250  208,289       208,289
                                   
Long Term Liabilities                                  
Long Term Debt  ssssss
             -
             -              -    34,786    34,786    31,929    34,786    29,071    27,643    26,214    24,786    23,357        500                    -
Other Long Term Liabilities               -              -              -            -            -        983            -