Coachmen Industries Announces 1997 Sales

23 January 1998

    ELKHART, Ind. -- Coachmen Industries today
announced all-time record sales for the year ending December 31, 1997.  Total
sales for the year were $661,591,185, an increase of nine percent over 1996's
sales of $606,474,128.  A dramatic increase in recreation vehicle (RV) sales
along with a healthy rise in sales from the company's Housing Group propelled
the new sales record.  RV sales jumped 19 percent while the Housing Group's
sales rose nine percent.  Sales for the fourth quarter were also a record.
Sales of $159,231,783 were up 16 percent over sales from the same period last
year.
    Net income for the fourth quarter was $6,320,709.  The company now has
achieved 24 consecutive profitable quarters.  The company's previous all-time
record for consecutive profitable quarters was seventeen.  Net income for the
year was $24,762,624.
    "Our RV sales were particularly strong in the third and fourth quarters,
and we believe those strong sales reflect the popularity of the company's new
1998 model offerings," noted Chairman and Chief Executive Officer Claire C.
Skinner.  "Our newly designed RVs are continuing to gain market share in all
product categories."
    Coachmen Industries is based in Elkhart, Indiana and consists of three
major operating entities.  The Recreational Vehicle Group manufactures a full
line of RVs and van conversions through five divisions.  The Company's Housing
Group, All American Homes, is the nation's number one manufacturer of modular
homes.  The Housing Group has plants in four states and serves builders in 18
states.  The Parts and Supply Group provides products primarily to the RV and
automotive industries, specializing in plastics and furnishings.  Nearly 4,300
employees work for Coachmen Industries.

SOURCE  Coachmen Industries