Wednesday, August 29, 2007
IS NATIONAL RV HISTORY?
RV Business
Tuesday, August 28, 2007
Officials for Perris, Calif.-based motorhome builder National RV Holdings Inc. hope a four-part plan will revive the struggling company, according to a report in the Press Enterprise, Riverside.
Last week, CEO Brad Albrechtsen resigned, the same day the company announced it had lost $8 million in its second quarter. David Humphreys has been named interim CEO while Len Southwick, president of subsidiary National RV Inc. since September 2005, will oversee day-to-day operations as COO.
"It's clearly time for a change at National RV, thus my resignation," Albrechtsen said during a Tuesday (Aug. 28) conference call with analysts.
During the call, Southwick said the company plans to build seven vehicles per day in an effort to increase revenue. National RV also intends to launch two new products at the National RV Trade Show in Louisville, Southwick said.
Humphreys said four steps involving revenue growth, reducing costs, modifying the company's financing and divvying out financial incentives to members of management would make the company profitable once again.
"I wish we could say we were going to be profitable next quarter, but it will take many quarters," he said.
The company's stock hit a 52-week low on Aug. 18 of 70 cents per share. In Tuesday afternoon trading, it was up 4 cents at 90 cents per share.
Tuesday, August 28, 2007
Officials for Perris, Calif.-based motorhome builder National RV Holdings Inc. hope a four-part plan will revive the struggling company, according to a report in the Press Enterprise, Riverside.
Last week, CEO Brad Albrechtsen resigned, the same day the company announced it had lost $8 million in its second quarter. David Humphreys has been named interim CEO while Len Southwick, president of subsidiary National RV Inc. since September 2005, will oversee day-to-day operations as COO.
"It's clearly time for a change at National RV, thus my resignation," Albrechtsen said during a Tuesday (Aug. 28) conference call with analysts.
During the call, Southwick said the company plans to build seven vehicles per day in an effort to increase revenue. National RV also intends to launch two new products at the National RV Trade Show in Louisville, Southwick said.
Humphreys said four steps involving revenue growth, reducing costs, modifying the company's financing and divvying out financial incentives to members of management would make the company profitable once again.
"I wish we could say we were going to be profitable next quarter, but it will take many quarters," he said.
The company's stock hit a 52-week low on Aug. 18 of 70 cents per share. In Tuesday afternoon trading, it was up 4 cents at 90 cents per share.
