Monaco Coach Corporation Expects to Raise Production Levels
COBURG, Ore., Aug. 20, 2003 -- Monaco Coach Corporation today announced that it will be increasing production levels moderately in response to demand for its 2004 recreational vehicle models.
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According to Monaco Coach Corporation President John Nepute, "Retail sales for our 2004 models have met our expectations, and our retail dealer partners are responding with stronger wholesale orders. Improving demand, coupled with finished goods inventory reductions, will allow us to increase production modestly."
If the current trends continue, the company intends to increase output at its Indiana motorhome production facilities by five units per week and at its Oregon motorhome production facilities by six units per week beginning September 2003.
"Our new production levels are consistent with the third quarter 2003 expectations we presented at the time of our second quarter 2003 earnings release," stated Vice President and Chief Financial Officer Marty Daley. "At this point, our guidance for the third quarter has not changed."
Headquartered in Coburg, Oregon, with additional manufacturing facilities in Indiana, Monaco Coach Corporation is one of the nation's leading manufacturers of recreational vehicles. The company offers customers luxury recreational vehicle models under the Monaco, Holiday Rambler, Safari, Beaver, McKenzie and Royale Coach brand names.
The statements above regarding the Company's anticipated production increase and third quarter 2003 expectations are forward-looking based on current information and involve a number of risks and uncertainties. A number of factors could cause actual results to differ materially from these statements, including slower than anticipated sales of new and existing products, a general slowdown in the economy, new product introductions by competitors, or the loss of dealers or a deterioration in the relationships with dealers. Please refer to the Company's SEC reports, including but not limited to the most recent Form 10-Q, the annual report on Form 10-K for 2002, and the 2002 Annual Report to Shareholders for additional factors. These filings can be accessed over the Internet at http://www.sec.gov/
For further information please contact: Mike Duncan, Investor Relations of Monaco Coach Corporation, +1-541-686-8011
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