NEWS RELEASE
For immediate release Friday, June 30, 2000
COACHMEN INDUSTRIES EXPECTS LOWER 2ND QUARTER RESULTS
ELKHART, INDIANA--Coachmen Industries, Inc. (NYSE: COA) announced today that
reduced motorhome shipments will result in lower than anticipated earnings for
the second quarter. While towable RV shipments are relatively flat compared to
last year at this time, the company has experienced a downturn in motorhome
demand, which is generally consistent with what other manufacturers have also
reported. A softening of the economy, higher gas prices and increased interest
rates along with an inventory adjustment on the part of dealers have all
contributed to the expected lower results for the quarter.
Coachmen Industries, Inc. is one of the nation's leading producers of
recreational vehicles and is the largest producer of modular homes in the U.S.
Recreational vehicles comprised 82 percent of Coachmen Industries' first quarter
sales and modular homes represented 18 percent.
This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Investors are cautioned not to
place undue reliance on forward-looking statements, which are inherently
uncertain. Actual results may differ materially from that projected or suggested
due to certain risks and uncertainties including, but not limited to the
potential fluctuations in the Company's operating results, the implementation of
its enterprise-wide software, the availability and pricing of gasoline, the
Company's dependence on chassis suppliers, interest rates, competition,
government regulations, legislation governing the relationships of the Company
with its recreational vehicle dealers and other risks identified in the
Company's SEC filings.
For more information:
James E. Jack
Executive Vice President and
Chief Financial Officer
219-262-0123
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