ELKHART, IN/PRNewswire-FirstCall/ -- Coachmen Industries, Inc. (NYSE:COA) announces its financial results for the fourth quarter and full year ended Dec. 31, 2008."As previously announced, we sold most of the assets of the RV Group on Dec. 26, 2008. RV finished-goods inventories and some other assets of the Group were sold below book value.
"Combined with operating losses sustained by the RV Group during the quarter, and the write-down of the remaining goodwill balances, this resulted in a rather unusual overall book loss for the Company for both the fourth quarter and the full year 2008.
"However, these actions also provide us with a clean platform to measure the performance of the restructured company as we move forward.
"In that regard, the overall book loss should not overshadow the perhaps equally extraordinary performance of our Housing Group, which posted a modest pre-tax profit for the full year 2008, as previously predicted," said Coachmen's President and CEO, Rick Lavers. (top right photo)
For a complete copy of the company's news release and financials, please contact
Thomas Gehl, Secretary, or Colleen Zuhl, Chief FinancialOfficer, both of Coachmen Industries, Inc., +1-574-266-2531
No comments:
Post a Comment