Coachmen Industries Warns of First-Quarter Loss
Coachmen Industries (COA) said Friday it expects to post a loss in the first quarter but will record a profit in the year's remaining quarters.
The company said it is "tracking close" to it business plan in the first two months of the year and expects to post revenue of $750 million, with earnings of between 60 cents and 70 cents for 2001. A single analyst is expecting the company to earn 72 cents in the year. The company earned 14 cents a share in 2000.
The maker of recreational vehicles and modular homes said it expects improved margins and revenue growth in 2002, but did not offer details.
Shares of Coachmen, which is based in Elkhart, Ind., fell 27 cents, or 2.7%, to $9.83 in recent New York Stock Exchange trading.
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